Misys post record revenues of $507 million

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Misys Healthcare Systems posted solid revenue growth for its fiscal year 2004, ending May 31st, as revenues grew 8 percent to $507 million. Growth was particularly strong in the second half of the year, the company said.

Operating profits of $74.9 million were down 1 percent on last year's profit due in part to the investment in integrating Misys CPR into the Misys product line following its acquisition in July 2003, according to the company. Excluding Misys CPR, underlying growth in revenue and operating profit was 3 percent and 6 percent, respectively.

"We believe Misys is well positioned to help physicians and caregivers take advantage of the latest trends in information technology," said Misys Healthcare Systems' Chief Executive Officer Tom Skelton. "Our significant investment [of more than $60 million] in research and development for Misys EMR, Misys CPR and Misys Optimum will give us the unique ability to provide information that follows the patient across all four venues of care. Taken with our strong showings in the KLAS customer satisfaction rankings and TEPR show competitions, these R &D investments show our ongoing commitment to meeting the needs of customers both today and tomorrow."