EXHIBIT 99
IDX Systems Corporation
1400 Shelburne Road
Burlington, VT 05402-1070
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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.
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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.
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