KANSAS CITY, Mo., May 21, 2018 (GLOBE NEWSWIRE) -- Cerner Corporation (NASDAQ:CERN) today announced that its board of directors approved an amendment to its stock repurchase program on May 17, 2018, at its regularly scheduled board meeting, authorizing the repurchase of up to an additional $500 million of its common stock. This expands the $500 million repurchase program that was approved on May 23, 2017, bringing the total authorized repurchase amount to $1 billion.

"The board of directors and our leadership team believe Cerner's shares are an attractive investment, and share repurchases are an important part of our capital allocation strategy," said Marc Naughton, executive vice president and chief financial officer of Cerner. "We have a strong balance sheet and expect to continue generating strong cash flow. The expanded repurchase program reflects our commitment to return value to shareholders and our belief in Cerner's long-term growth potential."

The company plans to repurchase shares from time to time in the open market, by block purchase, in privately negotiated transactions or possibly through other transactions managed by broker-dealers. No time limit was set for completion of the program.

As of May 18, 2018, there is approximately $639 million authorized for repurchase under the amended stock repurchase program. Based on the May 18, 2018 closing price, approximately 10.4 million shares, or 3.2 percent of the company's outstanding shares, could be repurchased under the amended authorization. The repurchase will be funded from working capital.

About Cerner
Cerner's health technologies connect people and information systems at more than 27,000 contracted provider facilities worldwide dedicated to creating smarter and better care for individuals and communities. Recognized globally for innovation, Cerner assists clinicians in making care decisions and assists organizations in managing the health of their populations. The company also offers an integrated clinical and financial system to help manage day-to-day revenue functions, as well as a wide range of services to support clinical, financial and operational needs, focused on people. For more information, visit Cerner.com, The Cerner Blog or connect on Facebook, Instagram, LinkedIn, Twitter or The Cerner Podcast. Nasdaq: CERN. Smarter Care. Better Outcomes. Healthier You.

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Investor Contact: Allan Kells, (816) 201-2445, [email protected]

Media Contact: Dan Smith, (913) 304-3991, [email protected]

Cerner's Internet Home Page: www.cerner.com