Quality Systems announces third-quarter financial results ended December 31, 2009

Quality Systems, Inc. (NASDAQ:QSII) today announced the results of operations for its fiscal 2010 third quarter ended December 31, 2009. The Company posted record net revenues of $75.0 million in the third quarter, an increase of 14 percent from $65.5 million for same period last year. The Company reported net income of $13.2 million in the third quarter, which remained unchanged from the comparable quarter last year. Fully diluted earnings per share were $0.46 in the quarter, which also remained unchanged when compared with $0.46 fully diluted earnings per share for the same quarter last year.

“We are well positioned to garner additional market share and fuel future growth as the healthcare industry shifts to an electronic-based medical records platform. We will continue to capitalize on the significant business opportunities that lie ahead from the implementation of the American Recovery and Reinvestment Act”

For the third quarter, the Company’s NextGen Healthcare Information Systems division posted record revenue of $70.6 million, up 15 percent from the same period a year ago and operating income of $24.5 million, an increase of 8 percent versus the comparable period last year.

“We are pleased with the results for the third quarter, which represent our team’s ability to grow the business to record levels. Time and again, we have stated that the Company continues to make the necessary investments in its infrastructure to ensure that we remain in a state of preparedness as the stimulus plan takes effect during the next three years,” noted Steven T. Plochocki, chief executive officer.

“We are well positioned to garner additional market share and fuel future growth as the healthcare industry shifts to an electronic-based medical records platform. We will continue to capitalize on the significant business opportunities that lie ahead from the implementation of the American Recovery and Reinvestment Act,” Plochocki concluded.