HDIE is the play for today! check this out:
hdie news-1st qtr.
Healthdyne Information Enterprises Reports 40%
Increase in Revenue and $0.02 EPS for First Quarter 1998
PR Newswire - April 22, 1998 06:00
HDIE %HEA %CPR %ERN V%PRN P%PRN
MARIETTA, Ga., April 22 /PRNewswire/ -- Healthdyne Information
Enterprises, Inc. (Nasdaq: HDIE) (HIE) today announced first quarter 1998
revenue of $4.7 million and net earnings of $352,000, or $0.02 per share,
compared to first quarter 1997 revenue of $3.4 million and a net loss of
$(503,000), or $(0.02) per share, which represents increases of 40% in revenue
and 200% in earnings per share.
HIE also announced a revenue backlog of $7.5 million as of March 31, 1998
compared to $6.9 million as of December 31, 1997.
Robert Murrie, HIE's President and Chief Executive Officer, indicated
that, "HIE's primary goal is profitable revenue growth in 1998 and beyond.
HIE is off to a good start with 40% revenue growth for the first quarter 1998
compared to the first quarter 1997 and a $600,000 increase in revenue backlog
during the first quarter 1998. We have now recorded five consecutive quarters
of increased revenue. Our revenue growth strategy includes (1) increasing the
distribution of integration software tools; (2) selling more integration
software tools and services to our growing customer base and new accounts; and
(3) selectively acquiring customer bases and integration technology."
HIE added six new integration software distributors during the first
quarter 1998. Four of these new distributors accounted for approximately 16%
of HIE's first quarter 1998 software revenue. Approximately half of HIE's
first quarter 1998 software revenue was generated by distributors. First
quarter 1998 software revenue included the first sales of the Company's
Cloverleaf(R) integration engine to customers outside the healthcare industry
-- a banking industry customer and a government sector customer -- as well as
the first international sale of the Company's EMerge(TM) enterprise-wide
master patient index software tool.
Mr. Murrie indicated that, "Increasing the number and productivity of our
distributors and providing both these distributors and our expanded direct
sale force with more integration software tools to sell are critical elements
of our growth plan. HIE has added 23 distributors since the start of 1997 and
tripled the size of its direct sales force relative to the first quarter 1997.
Further, we believe that our integration software technology with relatively
minor modifications is transportable to non-healthcare industries, such as
banking, financial services and others, thereby opening new distribution
channel opportunities for HIE."
Service revenue increased approximately $700,000, or 34%, in the first
quarter 1998 compared to the first quarter 1997. Mr. Murrie commented that,
"HIE is experiencing significant demand for integration services. For
example, six months ago, we focused a program on selling certain integration
services to our Cloverleaf(R) integration engine customer base. During that
six-month period, the related service revenue backlog for these select
integration services increased 65%. In addition, the related service revenue
recognized for these select integration services increased approximately
$350,000, or 64%, in the first quarter 1998 compared to the third quarter 1997
prior to the start of the program."
HIE is an international provider of integration software and service
solutions for healthcare and other enterprises in the United States, Canada,
the United Kingdom, Germany, Australia, South Africa and The Netherlands.
This press release contains forward-looking statements that involve a
number of risks and uncertainties. Among the important factors that could
cause actual results to differ materially from those indicated by such
forward-looking statements are competitive pressures, the mix of software and
service revenue, the mix of direct and indirect sales, sales timing, changes
in pricing policies, undetected errors or bugs in the software, delays in
product development, lower-than-expected demand for the Company's software
tools or services, business conditions in the integrated healthcare delivery
network market and other markets, the Company's ability to modify its software
for use in non-healthcare industries, risks associated with possible
acquisitions, 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, including the Company's
Annual Report on Form 10-K for the year ended December 31, 1997.
Select condensed financial information follows:
Healthdyne Information Enterprises, Inc. and Subsidiaries
Consolidated Condensed Statements of Operations - Unaudited
(in thousands, except per share amounts)
Three Months Ended March 31,
1998 1997
Revenue:
Software $1,905 $1,273
Service 2,796 2,087
Total revenue 4,701 3,360
Cost of revenue:
Software 222 522
Service 1,358 1,347
Total cost of revenue 1,580 1,869
Gross profit 3,121 1,491
Operating expenses:
Sales and marketing 1,115 762
Research and development 543 434
General and administrative 1,008 1,002
Total operating expenses 2,666 2,198
Operating earnings (loss) 455 (707)
Interest income, net 41 36
Earnings (loss) before income taxes 496 (671)
Income tax (expense) benefit (144) 168
Net earnings (loss) $352 $(503)
Earnings (loss) per share $0.02 $(0.02)
Shares used in the computation
of earnings (loss) per share 21,689 20,182
Healthdyne Information Enterprises, Inc. and Subsidiaries
Consolidated Condensed Balance Sheets - Unaudited
(in thousands) |
