UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q

QUARTERLY REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE QUARTER ENDED JUNE 30, 2005

0-28092
(Commission file number)

Medical Information Technology, Inc.
(Exact Name of Registrant as Specified in Its Charter)

Massachusetts
(State of Incorporation)

04-2455639
(IRS Employer Identification Number)

Meditech Circle, Westwood, MA
(Address of Principal Executive Offices)

02090
(Zip Code)

781-821-3000
(Registrant's Telephone Number)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ]

Indicate by check mark whether the registrant is an accelerated filer as defined in Rule 12b-2 of the Exchange Act. Yes [ ] No [X]

There were 34,750,437 shares of Common Stock, $1.00 par value, outstanding at June 30, 2005.

Page 1 of 10

Index to Form 10-Q	Page
Part I - Financial Information
Item 1 - Financial Statements (Unaudited)
Balance Sheet as of December 31, 2004 and June 30, 2005	3
Statement of Income for the Three and Six Months Ended June 30, 2004 and 2005	4
Statement of Cash Flow for the Six Months Ended June 30, 2004 and 2005	5
Notes To Financial Statements	6
Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations	7
Item 4 - Controls and Procedures	9
Part II - Other Information
Item 1 - Legal Proceedings	9
Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds	10
Item 6 - Exhibits	10
Signatures	10

Page 2 of 10

Part I - Financial Information

Item 1 - Financial Statements (Unaudited)

Balance Sheet as of December 31, 2004 and June 30, 2005
(000 omitted)

	Dec 31, 2004	Jun 30, 2005
Cash and equivalents	$14,566	$6,487
Marketable securities	192,701	201,142
Accounts receivable less reserve	32,082	29,420
Current assets	239,349	237,049
Computer equipment	7,797	7,091
Furniture & fixtures	28,960	29,475
Buildings	139,670	139,670
Land	26,604	26,604
Accumulated depreciation	(68,558)	(70,903)
Fixed assets	134,473	131,937
Marketable securities	45,000	54,990
Investments	8,493	8,373
Total assets	$427,315	$432,349
Accounts payable	$282	$3,332
Taxes payable	3,134	576
Accrued expenses	25,272	18,909
Customer deposits	14,585	17,627
Deferred taxes & tax reserves	13,992	13,155
Total liabilities	57,265	53,599
Common stock $1.00 par value,
authorized 40,000,000 shares,
issued and outstanding 34,514,544
in 2004 and 34,750,437 in 2005	34,514	34,750
Additional paid-in capital	24,269	30,874
Retained income	298,131	301,622
Net unrealized gain on securities	13,136	11,504
Shareholder equity	370,050	378,750
Total liabilities and shareholder equity	$427,315	$432,349

Page 3 of 10

Statement of Income for the Three and Six Months Ended June 30, 2004 and 2005
(000 omitted)

	3 months ended Jun 30		6 months ended Jun 30
	2004	2005	2004	2005
Product revenue	$36,457	$39,949	$73,333	$78,599
Service revenue	32,872	35,705	64,796	70,577
Total revenue	69,329	75,654	138,129	149,176
Operations, development	29,459	30,295	57,490	60,511
Selling, G & A	14,770	17,544	30,633	33,706
Operating expense	44,229	47,839	88,123	94,217
Operating income	25,100	27,815	50,006	54,959
Other income	6,401	5,647	11,550	12,129
Other expense	1,822	2,055	3,714	4,337
Pretax income	29,679	31,407	57,842	62,751
State income tax	2,602	2,886	5,091	5,769
Federal income tax	8,916	9,354	17,542	18,859
Income tax	11,518	12,240	22,633	24,628
Net income	$18,161	$19,167	$35,209	$38,123

Page 4 of 10

Statement of Cash Flow for the Six Months Ended June 30, 2004 and 2005
(000 omitted)

	6 months ended Jun 30
	2004	2005
Net income	$35,209	$38,123
Realized gain on sales of marketable securities		(928)
Depreciation expense	3,833	3,750
Change in accounts receivable	2,254	2,661
Change in accounts payable	2,517	3,050
Change in taxes payable	(1,696)	(2,559)
Change in accrued expenses	(7,570)	(6,363)
Change in customer deposits	772	3,042
Net effect of non-cash adjustments	766	251
Net cash from operations	36,085	41,027
Purchases of marketable securities	(15,920)	(53,967)
Sales/maturities of marketable securities		33,746
Purchases of equipment, furniture & fixtures	(584)	(1,214)
Proceeds from mortgage note receivable	120	120
Net cash used in investing	(16,384)	(21,315)
Sales of common stock	5,544	6,841
Dividends paid	(30,895)	(34,632)
Net cash used in financing	(25,351)	(27,791)
Net change in cash and equivalents	(5,650)	(8,079)
Cash and equivalents at beginning	18,691	14,566
Cash and equivalents at end	$13,041	$6,487

Page 5 of 10

Notes To Financial Statements (unaudited):

1. The unaudited financial statements presented herein have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and note disclosures required by generally accepted accounting principles. These statements should be read in conjunction with the financial statements and notes thereto for the year ended December 31, 2004 included in the Company's Form 10-K filed January 31, 2005. The unaudited financial statements presented herein have not been audited by our Independent Registered Public Accounting Firm in accordance with generally accepted auditing standards, but in the opinion of management such financial statements include all normal recurring adjustments necessary to summarize fairly the Company's financial position and results of operations.

2. During 2005, the Company made certain reclassifications to amounts in its balance sheet. The June 30, 2005 deferred taxes and tax reserves of $13,155 thousand are now recorded as current and the corresponding amount of $13,992 thousand at December 31, 2004 has been reclassified for comparative purposes.

3. The Company follows the provisions of Statement of Financial Accounting Standards No. 128 (SFAS 128), Earnings per Share. SFAS 128 requires reporting both basic and diluted earnings per share (EPS). The Company has no common share equivalents such as preferred stock, warrants or stock options which would dilute EPS. Thus, EPS is computed by dividing net income by the weighted average number of common shares outstanding during the applicable period.

Earnings per Share Calculations for the Three and Six Months Ended June 30, 2004 and 2005
(in thousands where applicable)

	3 months ended Jun 30		6 months ended Jun 30
	2004	2005	2004	2005
Net income	$18,161	$19,167	$35,209	$38,123
Average number of shares	34,363	34,711	34,363	34,711
Earnings per share	$0.53	$0.55	$1.03	$1.10

The average number of shares outstanding during the periods reflects the issuance of 213,221 shares in March 2004 and 235,893 shares in February 2005 pursuant to the 2004 Stock Purchase Plan.

4. The Company follows the provisions of Statement of Financial Accounting Standards No. 130 (SFAS 130), Reporting Comprehensive Income. SFAS 130 establishes standards for reporting and display of comprehensive income and its components in financial statements. Comprehensive income is the total of net income and all other non-owner changes in equity including items such as net unrealized gains/losses on marketable securities classified as available for sale, foreign currency translation adjustments and minimum pension liability adjustments.

Comprehensive Income for the Three and Six Months Ended June 30, 2004 and 2005
(000 omitted)

	3 months ended Jun 30		6 months ended Jun 30
	2004	2005	2004	2005
Net income	$18,161	$19,167	$35,209	$38,123
Net unrealized gains (losses)	(10,231)	775	(7,478)	(1,632)
Comprehensive income	$7,930	$19,942	$27,731	$36,491

Page 6 of 10

5. At June 30, 2005 the Company's marketable securities had a fair market value of $256,131,599 which includes a gross unrealized gain of $21,576,343 and a gross unrealized loss of $2,402,330. The gross unrealized loss is composed of 7 equities with an original cost of $35,135,605 and a fair market value of $32,733,275. These 7 equities have been in an unrealized loss status for less than 6 months. The Company considered the effect of rising interest rates and the issuer's current financial position in order to reach its conclusion that these impairments are temporary at June 30, 2005. The details are as follows:

Description of Securities	Fair Market Value	Unrealized Loss
3 common equities	$8,946,500	$1,669,175
4 preferred equities	$23,786,775	$733,155

6. The Company follows the provisions of Statement of Financial Accounting Standards No. 131 (SFAS 131), Disclosure About Segments of an Enterprise and Related Information. Based on the criteria set forth in SFAS 131 the Company currently operates in one operating segment, medical software and services. The Company derives substantially all of its operating revenue from the sale and support of one group of similar products and services. All of the Company's assets are located within the United States. During the first six months of 2005, 90% of our operating revenue was derived from the United States, 9% from Canada and 1% from other countries.

7. During the month of February from 1997 through 2003, the Company offered and sold shares of its common stock to its staff members in a manner which may not have complied with the registration requirements of certain federal and state securities laws. During the 4th quarter of 2004 the Company made a recision offer to these individuals so as to extinguish its liability, if any, for these potential securities law violations. None of these individuals accepted the recision offer.

Prior to the 4th quarter of 2004 the shares subject to recision rights were considered and treated as redeemable common stock for financial accounting purposes until such time as the recision rights terminated or were exercised. Therefore the recision amount and the related shares were classified as Temporary Equity. In late December, when the recision offer expired, the Company transferred the recision amount and related shares from Temporary Equity to Shareholder Equity.

Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations

Results of Operations for 3 Months Ended June 30, 2004 and 2005
(in thousands where applicable)

	3 months ended Jun 30
	2004	2005	Change
Total revenue	$69,329	$75,654	9.1%
Operating income	25,100	27,815	10.8%
Net income	18,161	19,167	5.5%
Average number of shares	34,363	34,711	1.0%
Earnings per share	$0.53	$0.55	4.5%
Cash dividends per share	$0.45	$0.50	11.1%

Page 7 of 10

Total revenue from both existing and new customers increased by $6.3 million. It was composed of a $3.5 million increase in product revenue and a $2.8 million increase in service revenue.

Operating expense increased by $3.6 million or 8.2% due to additional sales commissions, an overall increase in staff and additional bonus accruals. The resultant operating income increased by $2.7 million.

Other income decreased by $0.8 million or 11.8% due primarily to a $1.1 million payment of dividends in arrears received in 2004. Other expense increased by $0.2 million or 12.8% due primarily to higher rental costs and increased lawsuit related legal expenses. The resultant pretax income increased by $1.7 million or 5.8%.

The Company's effective tax rate increased from 38.8% to 39.0%. Net income increased by $1.0 million due primarily to the greater increase in revenue compared to expense.

Results of Operations for 6 Months Ended June 30, 2004 and 2005
(in thousands where applicable)

	6 months ended Jun 30
	2004	2005	Change
Total revenue	$138,129	$149,176	8.0%
Operating income	50,006	54,959	9.9%
Net income	35,209	38,123	8.3%
Average number of shares	34,363	34,711	1.0%
Earnings per share	$1.03	$1.10	7.2%
Cash dividends per share	$0.90	$1.00	11.1%

Total revenue from both existing and new customers increased by $11.1 million. It was composed of a $5.3 million increase in product revenue and a $5.8 million increase in service revenue.

Operating expense increased by $6.1 million or 6.9% due to additional sales commissions, an overall increase in staff and additional bonus accruals. The resultant operating income increased by $5.0 million.

Other income increased by $0.6 million or 5.0% due primarily to a $0.9 million marketable securities gain. Other expense increased by $0.6 million or 16.8% due primarily to higher rental costs and increased lawsuit related legal expenses. The resultant pretax income increased by $4.9 million or 8.5%.

The Company's effective tax rate increased from 39.1% to 39.2%. Net income increased by $2.9 million due primarily to the greater increase in revenue compared to expense.

Financial Condition as of December 31, 2004 and June 30, 2005
(in thousands where applicable)

	Dec 31, 2004	Jun 30, 2005
Cash and equivalents	$14,566	$6,487
Total assets	427,315	432,349
Total liabilities	57,265	53,599
Shareholder equity	370,050	378,750
Outstanding number of shares	34,514	34,750
Shareholder equity per share	$10.72	$10.90

During the first 6 months accounts payable increased by $3.1 million primarily because no payroll tax withholding was outstanding at December 31, 2004 while $2.4 million was outstanding at June 30, 2005.

During the first 6 months taxes payable decreased by $2.6 million due primarily to additional state tax payments in 2005.

During first 6 months accrued expenses decreased by $6.4 million due to the payment of $21.3 million in bonuses applicable to 2004, offset by the accrual of $14.2 million in bonus expenses applicable to 2005.

Page 8 of 10

Liquidity and Capital Resources:

At June 30, 2005 the Company's cash, cash equivalents and marketable securities totaled $262.6 million. Marketable securities consisted of preferred equities, common equities and government notes which can easily be converted to cash. During the first 6 months of 2005 cash flow from operations was $41.0 million, cash flow used in investing was $21.3 million and cash flow used in financing was $27.8 million. During the first 6 months of 2005 the payment of $34.6 million in dividends to shareholders was the primary use of cash generated by operating activities.

MEDITECH has no long-term debt. Shareholder equity at June 30, 2005 was $378.8 million. Management anticipates additions to property, plant and equipment will continue, including new facilities and computer systems for product development, sales and marketing, implementation, service and administrative staff. Management believes existing cash, cash equivalents and marketable securities together with funds generated from operations will be sufficient to meet operating and capital expense requirements for the foreseeable future.

Item 4 - Controls and Procedures

An evaluation was conducted under the supervision and with the participation of the Company's management, including the Chief Executive Officer and Chief Financial Officer, on the effectiveness of the Company's disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)14(c) under the Securities Exchange Act of 1934) as of the end of the period covered by this report. Based on this evaluation, our Chief Executive Officer and Chief Financial Officer have concluded the Company's disclosure controls and procedures are, to the best of their knowledge, effective to ensure information requiring disclosure by the Company in reports which it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission rules and forms.

There were no changes in the Company's internal control over financial reporting occurring during the fiscal quarter covered by this report which have materially affected or are reasonably likely to materially affect the Company's internal control over financial reporting.

Part II - Other Information

Item 1 - Legal Proceedings

On April 18, 2003, a shareholder and former Director of the Company filed a complaint in the Suffolk County, Massachusetts Superior Court against the Company and five of its six Directors. The complaint is summarized in the 2004 Annual Report on Form 10-K.

On February 10, 2005, a former employee filed a complaint in the United States District Court for the District of Massachusetts against the Medical Information Technology Profit Sharing Plan and all six of the Company's Directors. The complaint is summarized in the 2005 Definitive Proxy Statement on Schedule 14A.

Page 9 of 10

Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds

The Company did not repurchase any of its shares of common stock during the second quarter of 2005. However, during the quarter the Medical Information Technology, Inc. Profit Sharing Trust purchased 1,000 shares of the Company's common stock for a total of $29,200 in individual private transactions. Below is a table showing the purchases of common stock by the Trust during each month of the second quarter of 2005.

2nd quarter of 2005	shares purchased	price per share
April	800	$29.00
May	200	$30.00
June	none	--

Item 6 - Exhibits

Exhibit 3.1: MEDITECH's Articles of Organization, as amended to date, is incorporated by reference to an exhibit to the Form 10 filed with the SEC on March 28, 1996, an exhibit to the annual report on Form 10-K for the year ended December 31, 2001 and an exhibit to the quarterly report on Form 10-Q for the quarter ended September 30, 2004.

Exhibit 3.2: MEDITECH's By-laws, as amended to date, are incorporated by reference to an exhibit to the annual report on Form 10-K for the year ended December 31, 2001.

Exhibit 31: Rule 13a-14(a) Certifications and Exhibit 32: Section 1350 Certifications are appended to this report.

There were no reports filed on Form 8-K during the quarter ended June 30, 2005.

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Medical Information Technology, Inc.
(Registrant)

July 29, 2005
(Date)

By: Barbara A. Manzolillo, Chief Financial Officer and Treasurer
(Signature)

Page 10 of 10

Exhibit 31, Rule 13a-14(a) Certifications

CERTIFICATION PURSUANT TO RULE 13A-14 OR 15D-14 OF THE SECURITIES EXCHANGE ACT OF 1934, AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Barbara A. Manzolillo, Chief Financial Officer and Treasurer, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Medical Information Technology, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) [Paragraph omitted in accordance with SEC transition instructions];

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

July 29, 2005
(Date)

Barbara A. Manzolillo, Chief Financial Officer and Treasurer
(Signature)

I, A. Neil Pappalardo, Chief Executive Officer and Chairman, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Medical Information Technology, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) [Paragraph omitted in accordance with SEC transition instructions];

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

July 29, 2005
(Date)

A. Neil Pappalardo, Chief Executive Officer and Chairman
(Signature)

Exhibit 32, Section 1350 Certifications

I, Barbara A. Manzolillo, Chief Financial Officer and Treasurer, certify this quarterly report on Form 10-Q of Medical Information Technology, Inc. for the period ended June 30, 2005, fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934 and the information contained in this report fairly presents, in all material respects, the financial condition and results of operations of the Company.

July 29, 2005
(Date)

Barbara A. Manzolillo, Chief Financial Officer and Treasurer
(Signature)

I, A. Neil Pappalardo, Chief Executive Officer and Chairman, certify this quarterly report on Form 10-Q of Medical Information Technology, Inc. for the period ended June 30, 2005, fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934 and the information contained in this report fairly presents, in all material respects, the financial condition and results of operations of the Company.

July 29, 2005
(Date)