Quality Systems Inc. (QSII) reported fiscal second-quarter earnings of 41 cents, beating the Zacks Consensus Estimate by a penny and the year-ago earnings by 4 cents.

Total revenues for the quarter increased 21.5% to $71.69 million from $58.98 million. The company’s NextGen Healthcare Information Systems division posted revenue of $67.4 million for the reported quarter, representing a 23% increase from the previous year.

Category-wise, System sales Incorporatedluding software, hardware and supplies Incorporatedreased 5.9% to $26.24 million from $24.78 million. Revenues from maintenance, electronic data interchange (EDI), revenue cycle management (RCM) and other services grew 32.9% to $45.46 million from $34.19 million in the year-ago period.

The total cost of system sales Incorporatedluding software, hardware and supplies increased 16.8% to $7 million. Total cost of maintenance, EDI, RCM and other services for the quarter were $21.27 million as against $15.2 million in the year-ago quarter, up 39.9%. Consequently, total cost of revenues for the quarter increased 33.4% to $28.3 million. The company reported a gross profit of $43.4 million for the quarter opposed to $37.8 million in the year-ago period, up 14.8%.

Research & development spend for the quarter increased 30% to $4.34 million for the quarter. Selling, general and administrative expenses for the reported quarter increased 11.7% to $20.4 million.

Quality Systems exited the quarter with cash and cash equivalents of $75.4 million opposed to cash and cash equivalents of $70.2 million at the end of fiscal 2009.

Quality Systems, headquartered in Irvine, California, develops and markets healthcare information systems that automate certain aspects of medical and dental practices, networks of practices such as physician hospital organizations and management service organizations, ambulatory care centers, community health centers, and medical and dental schools. The company competes with players like Allscripts-Misys Healthcare Solutions, Inc. (MDRX) and Cerner Corp. (CERN).

Zacks Investment Research

1. (VMW) VMware Barely Beats Consensus ForecastsVMware Inc. (VMW) reported third-quarter results after the closing bell on Wednesday. The company posted...
2. ($MDRX) Allscripts-Misys Healthcare Solutions Benefits From Federal GrantAllscripts-Misys Healthcare Solutions Inc. (MDRX) recently benefited from the $1 million federal grant secured by...
3. (MDRX) Allscripts-Misys Healthcare Solutions Aligns with Intuit on Quicken Health Bill PayAllscripts-Misys Healthcare Solutions, Inc. (MDRX) recently entered in an alliance with Intuit Inc. (INTU), a...
4. (LMT) Lockheed Buys Gyrocam Systems LLC, Makers of Gyrostabilized Optical Surveillance SystemsLockheed Martin Corporation (LMT) yesterday completed the acquisition of Gyrocam Systems LLC, which develops and...
5. (FSYS) Fuel Systems Solutions – products and systems allow regular cars to operate on propane or natural gasFuel Systems Solutions, Inc. (FSYS) delivered a solid third quarter and saw analysts boost estimates....
6. (GD) General Dynamics – sales increased in the Aerospace, Marine Systems and Information Systems and Technology groupsGeneral Dynamics Corp. (GD) reported third-quarter results in late October. Earnings per share of $1.59...

Search Posts by Tag: Allscripts-Misys Healthcare Solutions Inc | CERN | Cerner Corporation | MDRX | QSII | Quality Systems Inc. | Healthcare Information Services | Technology

RSS Feeds by Tag: Allscripts-Misys Healthcare Solutions Inc | CERN | Cerner Corporation | MDRX | QSII | Quality Systems Inc. | Healthcare Information Services | Technology |

Other Posts by: vitalstocks | RSS Feed for this author