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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
Date of Report (Date of earliest event reported) September 30, 1996
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HEALTHDYNE INFORMATION ENTERPRISES, INC.
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(Exact name of registrant as specified in its charter)
Georgia 0-270576 58-2112366
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
1850 Parkway Place, Suite 1100, Marietta, Georgia 30067
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Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (770)423-8450
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Former name or former address, if changed since last report)
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ITEM 5 Other Events
On October 23, 1996, Healthdyne Information Enterprises, Inc. (the
"Company") announced its third-quarter financial results for the period ended
September 30, 1996. The information contained in such press release is hereby
incorporated by reference into this Report.
ITEM 7 Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits
99 Press Release of the Company dated October 23, 1996,
regarding third-quarter financial results for the period ended
September 30, 1996.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this amendment to be signed on its behalf by the
undersigned hereunto duly authorized.
HEALTHDYNE INFORMATION ENTEPRISES, INC.
Registrant
/s/ Joseph G. Bleser
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Joseph G. Bleser
Vice President-Finance, Chief Financial
Officer, Treasurer and Secretary
Dated: October 28, 1996
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EXHIBIT INDEX
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<CAPTION>
Exhibit
Number Description
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<S> <C>
99 Press release of Healthdyne Information Enterprises, Inc. (the
"Company") dated October 23, 1996, regarding third-quarter financial
results for the period ended September 30, 1996
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EXHIBIT 99
HEALTHDYNE INFORMATION ENTERPRISES
NEWS RELEASE
For further information on
Healthdyne Information Enterprises, Inc. ("HIE"),
Contact: Joe Bleser, Chief Financial Officer at (770)423-8451.
HIE Reports Quarterly Profit; Revenue Up 90%;
and Increased Revenue Backlog
MARIETTA, GA, OCTOBER 23, 1996 -- Healthdyne Information Enterprises, Inc.
("HIE" or the "Company," NASDAQ SmallCap Market: HDIE) today announced third
quarter revenue of $4.0 million, representing a 90% increase over the third
quarter of 1995, and net earnings of $280,000 or $0.01 per share, compared to a
net loss of $1.2 million or $0.08 per share in the previous year's third
quarter. The Company also announced a revenue backlog of $7.0 million as of
September 30, 1996, representing a $5.6 million increase over September 30,
1995 and a $500,000 increase over June 30, 1996.
Revenue for the nine-month period ended September 30, 1996 was $11.2
million, representing a 92% increase over the nine-month period ended September
30, 1995. Net earnings were $646,000 or $0.03 per share for the nine months
ended September 30, 1996 compared to a net loss of $3.1 million or $0.20 per
share for the nine months ended September 30, 1995.
The increased revenue during both the third quarter and the first nine
months of 1996 was primarily attributable to increased system design,
implementation and integration services revenue. It also reflects increases in
software license fees from the Cloverleaf(TM) integration engine, the Community
Person Index ("CPI"), imaging and workflow software tools and the related fees
for support and education services. The Company's revenue mix was 57% service
and 43% software for the first nine months of 1996 compared to 41% service and
59% software for the entire year 1995.
HIE is a provider of healthcare clinical information solutions and
services to integrated healthcare delivery networks and other healthcare
providers in the United States, Canada, the United Kingdom, Germany and
Australia.
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, changes in pricing
policies, undetected errors or bugs in the software, delays in product
development, lower-than-expected demand for the Company's solutions, business
conditions in the IDN market, general
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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.
Selected condensed financial information follows:
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HEALTHDYNE INFORMATION ENTERPRISES, INC.
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS -- UNAUDITED
(in thousands, except per share amounts)
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<CAPTION>
Three Months Ended Nine Months Ended
September 30, September 30,
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1996 1995 1996 1995
<S> <C> <C> <C> <C>
Revenue $ 3,953 $ 2,077 $11,220 $ 5,830
Cost of Revenue 1,364 828 3,899 1,772
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Gross profit 2,589 1,249 7,321 4,058
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Operating Expenses:
Sales and marketing 764 946 2,445 2,424
Research and development 471 545 1,076 1,373
General and administrative 938 1,100 2,783 2,914
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Total expenses 2,173 2,591 6,304 6,711
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Operating earnings (loss) 416 (1,342) 1,017 (2,653)
Losses of affiliate -- (288) -- (756)
Minority interest -- 143 -- 163
Interest expense, net (136) (51) (371) (136)
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Income (loss) before taxes 280 (1,538) 646 (3,382)
Income tax benefit -- 327 -- 282
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Net earnings (loss) $ 280 $(1,211) $ 646 $(3,100)
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Earnings (loss) per share $ 0.01 $ (0.08) $ 0.03 $ (0.20)
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Weighted average shares
outstanding 18,934 15,500 18,505 15,500
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CONSOLIDATED CONDENSED BALANCE SHEETS - UNAUDITED
(in thousands)
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<CAPTION>
9/30/96 12/31/95
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<S> <C> <C>
Cash $2,717 $ 4,013
Other current assets, net 5,864 3,986
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Total current assets 8,581 7,999
Intangible assets, net 13,035 12,108
Other assets 1,668 1,627
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Total assets $23,284 $21,734
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Short-term debt $1,598 $ 2,652
Other current liabilities 4,444 2,604
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Total current liabilities 6,042 5,256
Long-term obligations 5,276 5,549
Shareholders' equity 11,966 10,929
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Total liabilities and
shareholders' equity $23,284 $21,734
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