IDX Systems Corp., a Burlington, Vt.-based healthcare information systems and services company, reported a 317% increase in net income for the first fiscal year under which it disclosed results as a publicly traded company.
The 27-year-old company, which went public in November 1995, posted income of $9.6 million, or 55 cents per share, for the year ended Dec. 31, 1995, compared with $2.3 million, or 13 cents per share, for the previous year. Revenues in 1995 grew 21% to $128.1 million.
For the fourth quarter ended Dec. 31, 1995, net income was $2.7 million, or 15 cents per share, compared with a net loss of $983,000, or 6 cents per share, in the year-ago quarter. Revenues increased 38% to $33.3 million.
IDX said its information systems are installed at about 1,000 sites, including more than 190 large physician group practices and more than 100 hospitals. The company is marketing its line of products to integrated healthcare delivery systems.