-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, P/ScMCJwgcjW0yCdjE1mDbsVfoKrtoxnKzsdUARArI17HY9KXujDYCHtx3znLpa5 IKR232QFOc7zmKVDio1S3g== 0001001185-99-000019.txt : 19990309 0001001185-99-000019.hdr.sgml : 19990309 ACCESSION NUMBER: 0001001185-99-000019 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990305 ITEM INFORMATION: FILED AS OF DATE: 19990308 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IDX SYSTEMS CORP CENTRAL INDEX KEY: 0001001185 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373] IRS NUMBER: 030222230 STATE OF INCORPORATION: VT FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-26816 FILM NUMBER: 99559608 BUSINESS ADDRESS: STREET 1: 1400 SHELBURNE RD STREET 2: PO BOX 1070 CITY: SOUTH BURLINGTON STATE: VT ZIP: 05403 BUSINESS PHONE: 8028621022 MAIL ADDRESS: STREET 1: 1400 SHELBURNE RD STREET 2: PO BOX 1070 CITY: SOUTH BURLINGTON STATE: VT ZIP: 05403 8-K 1 FORM 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 March 8, 1999 (Date of Report) March 5, 1999 (Date of earliest event reported) ------------------------- Commission File Number 0-26816 IDX SYSTEMS CORPORATION (Exact name of registrant as specified in its charter) Vermont 03-0222230 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 1400 Shelburne Road South Burlington, VT 05403 (Address of principal executive offices) Registrant's telephone number, including area code: (802-862-1022) Exhibit Index on Page 2 of 5 ITEM 5. OTHER EVENTS On March 5, 1999, the Company announced that, based on currently available information, the Company expects sales for the first quarter ending March 31, 1999 to be in the range of $60 to $65 million. The Company expects sales in this range to result in a loss of ($0.22) - ($0.28) per share for the quarter, versus analysts' consensus estimates of profit of $.35 per share. The after tax loss for the quarter is expected to be ($5) - ($7) million. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS (c) Exhibits.
EXHIBIT NO. DESCRIPTION PAGE ----------- ----------- ---- 99 IDX News Release dated 4 March 5, 1999
Page 2 of 5 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. IDX SYSTEMS CORPORATION (Registrant) Date: March 8, 1999 /S/ John A. Kane ____________________________________ John A. Kane Vice President, Finance and Administration Chief Financial Officer, and Treasurer Page 3 of 5 EX-99 2 EXHIBIT 99 IDX Systems Corporation 1400 Shelburne Road Burlington, VT 05402-1070 - -------------------------------------------------------------------------------- Contact: Jack Kane Chief Financial Officer (802) 864-1758 x6199 FOR IMMEDIATE RELEASE IDX SYSTEMS CORPORATION ANNOUNCES PRELIMINARY FIRST QUARTER RESULTS BURLINGTON, VT, March 5, 1999 -- IDX Systems Corporation (Nasdaq: IDXC) announced today that based on currently available information, the Company expects sales for the first quarter ending March 31, 1999 to be in the range of $60 to $65 million. Sales in this range are expected to result in a loss of ($0.22) - ($0.28) per share for the quarter, versus analysts' consensus estimates of $.35 per share. The after tax loss for the quarter is expected to be ($5) - ($7) million. "We believe the primary factor in the sales shortfall is the unexpected deferral of purchasing decisions by our customers and prospects," said Richard E. Tarrant, IDX Chief Executive Officer. "Although our projected first quarter performance is well below expectation, we believe that our business is fundamentally sound. Based on the information available, we expect to return to profitability in the second quarter. The contracts that have been delayed are still in the pipeline. IDX has a well-established customer base, a proven track record and functionally rich, integrated products and services. We are committed to a strategy of combining enterprise software with the advantages of Internet technology, which positions the Company for future growth." The Company plans to announce first quarter results in late April 1999. Founded in 1969, IDX Systems Corporation provides complete healthcare information solutions for integrated delivery networks including group practices, MSOs and hospitals. To connect systems and sites across the enterprise, IDX offers IDXtendR @ the Site Series. The IDXtendR product line provides comprehensive, integrated products and services to manage costs and contracts, measure utilization, capture clinical data and monitor patient outcomes - while streamlining patient flow and automating business processes. IDX is the company of choice at more than 1,600 customer sites nationwide. Page 4 of 5 This press release contains forward-looking statements that involve a number of risks and uncertainties, including statements concerning the amount and timing of sales and earnings. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are volume and timing of systems sales and installations, length of sales cycles and installation process, seasonal patterns of sales and customer buying behaviors, the potential disruption of customer's purchasing plans due to work on their own year 2000 problems, development and implementation of year 2000 ready products for the Company's internal use, development and implementation of year 2000 ready solutions for customers, development by competitors of new or superior technologies, delays in product development, undetected errors or bugs in software, product liability, changing economic, political and regulatory influences on the healthcare industry, changes in product pricing policies, competitive pressures, possible regulation of the Company's software by the U.S. Food and Drug Administration, general economic conditions, and the risk factors detailed from time to time in the Company's periodic reports and registration statements filed with the Securities and Exchange Commission, which important factors are incorporated herein by reference. Page 5 of 5 -----END PRIVACY-ENHANCED MESSAGE-----