Sunquest Information Systems reported first-quarter revenues of $31.8 million, up 10.8% compared with revenues of $28.7 million for the same period last year. For the period (end-March 31), the Tucson, AZ-based firm had net income of $2.3 million, compared with net income of $2.6 million in the first quarter of 2000.
The revenue increase was primarily due to an increase in installations of software and hardware systems deliveries, according to the firm. Charges related to its e-commerce segment impacted profitability, however.
Sunquest continues to evaluate strategic alternatives with its investment banker Deutsche Banc Alex. Brown, as well as review spending levels related to its Internet initiatives. As such, Sunquest is not commenting on expectations for the remainder of 2001.
By AuntMinnie.com staff writers
May 3, 2001
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