Burlington, VT-based IDX Systems posted first-quarter 2002 revenues of $104.6 million, up 14% from the $91.8 million posted in the first quarter of 2001. For the period (end-March 31), the healthcare information systems vendor stated a pro forma net income of $1.3 million, compared with a net loss of $172,000 in the same period last year.
The pro forma numbers did not include a pretax, nonrecurring gain of $4.3 million associated with the company’s January 2001 sale of ChannelHealth, to Allscripts Healthcare Solutions. Also excluded is a pretax, nonrecurring gain of $5.8 million associated with the sale of an investment in an unrelated entity, and a pretax loss of $6.1 million associated with IDX’s equity in Allscripts, according to the company.
Looking ahead, IDX CEO Richard Tarrant said the firm remains comfortable with its previous 2002 earnings guidance of 45 cents per share on revenues of $430 million to $450 million.
By AuntMinnie.com staff writersApril 23, 2002
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