QUALITY SYSTEMS REPORTS THIRD QUARTER RESULTS
IRVINE, Calif.--(BUSINESS WIRE)- February 5, 2008--Quality Systems, Inc. (NASDAQ:QSII - news) today announced the results of operations for its fiscal 2008 third quarter ended December 31, 2007. The Company posted net revenues of $48.1 million in the third quarter, an increase of 25% from the $38.5 million generated during the same quarter last year. The Company reported record net income of $11.2 million, an increase of 29% over net income of $8.7 million earned in the comparable quarter of the prior year. Fully diluted earnings per share was $0.40 in the quarter, a record for the Company, and an increase of 25% over the fully diluted $0.32 per share earnings recorded in the same quarter last year.
For the quarter, the Company's NextGen Healthcare Information Systems division posted record revenue of $44.0 million, up 29% over the same quarter prior year and record operating income of $17.8 million, up 33% over the same quarter of the prior year.
The quarter's financial performance was positively impacted by a net $0.03 per share, as a result of life insurance proceeds and associated compensation expense related to the passing of Mr. Greg Flynn, the Company's Executive Vice President and General Manager.
Quality Systems, Inc. will hold a conference call to discuss third quarter financial results February 5, 2008 at 4:30 p.m. EST (1:30 p.m. PST). To participate in the conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: (877) 586-7724. There is no pass code required for this call. If you are unable to participate in the call at this time, a replay will be available on Tuesday, February 5, 2008 at 6:30 p.m. EST through Tuesday, February 12, 2008 at midnight EST. To access the replay dial 800-642-1687 and enter the conference ID number 33740575.
A transcript of the conference call will be made available on the QSII Web site (www.qsii.com).
About Quality Systems, Inc.
Quality Systems, Inc. and its NextGen Healthcare Information Systems subsidiary develop and market computer-based practice management, patient records, and connectivity applications for medical and dental group practices. Visit www.qsii.com and www.nextgen.com for additional information.
CONTACTS:
Quality Systems, Inc.
Paul Holt
CFO
Phone: (949) 255-2600
CCG Investor Relations
Sean Collins
Senior Partner
Phone: (310) 477-9800