Healthcare Information Systems

IDX Systems Corporation

Products

Recently, IDX Systems Corp. <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: IDXC)") else Response.Write("(Nasdaq: IDXC)") end if %> introduced IDXtendR, a relational, scalable product line that leverages advanced client-server architecture and web-based technology to facilitate the flow of patient data in healthcare settings. IDXtendR is built on IDX's three proven product suites -- the Ambulatory Suite, focusing on the needs of physician offices and MSOs; the Care Management Suite, an object-oriented system for physician-centered care management and clinical documentation; and the Enterprise Suite for connecting hospitals and other provider sites throughout the delivery network.

The Company

IDX's recent acquisition of Phamis places the company squarely in the top three in the industry in terms of revenues. IDX's products are used in academic hospitals and outpatient clinics, an area under-penetrated by the HIT market as a whole. IDX's Integrated Delivery Network (IDN) has the advantage of leveraging its costs over an ever-increasing base, which should noticeably improve costs going forward. In addition, the market seems to be migrating toward IDX's strength, the high end of the ambulatory care segment. IDX has maintained a respectable unleveraged return on equity of 12% over the last two years, and trading at 28x 1998 earnings estimates provides solid potential for the long term.

Latest Financials

For the second quarter ended June 30, 1997, revenues were $47.5 million, as compared to $39.1 million in the second quarter of 1996. Revenues for the six-month period ended June 30, 1997 were $92.6 million, as compared to $76.4 million for the same period in 1996. The company reported net income of $5 million, or $0.23 per share, for the second quarter of 1997, as compared to net income of $3.9 million, or $0.18 per share, for the second quarter of 1996.

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