IDX shows strong Q4, fiscal year

Healthcare informatics developer IDX Systems reported a 42% revenue increase for the fourth quarter of fiscal 2004, totaling $151.7 million in revenues compared to $107 million in the fourth quarter of 2003. Sales for the 12-month period (end-December 31) were $521 million, up 30% from revenues of $399 million for the same period in 2003.

The Burlington, VT-based vendor had a net profit of $12.3 million for the fourth quarter, compared with a profit of $12.2 million in the same period last year. For the fiscal year, IDX reported net income of $31.8 million, compared with net income of $58.4 million for fiscal 2003. In 2003, the firm recorded $26.4 million in income related to the sale of its EDiX subsidiary.

The firm offered guidance for fiscal 2005 of revenues between $610 million and $630 million, IDX said.

In other IDX news, the developer reported a clutch of new contracts in its fourth quarter. The University of Rochester Medical Center, an independent delivery network (IDN) serving western New York, has purchased the firm's Flowcast hospital patient accounting application. The IDN will implement the product at Strong Memorial Hospital, a 750-bed facility in Rochester, NY, and Highland Hospital, a 268-bed facility, also located in Rochester.

Vanderbilt University Medical Center, a 1,000-bed facility in Nashville, TN, will upgrade to Imagecast RIS, including the Imaging Suite and Enterprise Access modules, IDX said.

Lehigh Valley Hospital and Health Network (LVHHN) of Allentown, PA, will upgrade to the firm's Carecast product to expand its use of computerized physician order entry (CPOE). LVHHN is a 981-bed healthcare organization with three hospital facilities, according to IDX.

Finally, the developer reported that North Carolina Baptist Hospital (NCBH), an 830-bed healthcare organization based in Winston-Salem, NC, will be adding Carecast wireless barcode medication charting functionality to its previously announced upgrade to Carecast.

By staff writers
February 10, 2005

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IDX shows Q1 uptick, expands client base, April 30, 2004

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