IDX Systems scores revenue gains in 2003, eyes more growth in 2004

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Record revenues and gross profit margins in its Flowcast and Groupcast operating units propelled IDX Systems Corp. in 2003.

Revenues increased to $400 million, compared with $348 million in 2002. Net income escalated to $58.4 million, compared with income of $10 million in 2002. Revenues reflect IDX's June 2003 divestiture of its medical transcription services business operated through EDiX Corp.

With the recent award of a clinical information systems and services contract from the United Kingdom National Health Service (NHS) for the London region, IDX is raising revenue estimates for 2004 to $500 million to $525 million. The previous revenue estimate for 2004 had been in the $455 million to $460 million range.