For Further Information, Contact:
Quality Systems, Inc.
18111 Von Karman Avenue, Suite 800
Irvine, CA 92612
Phone: (949) 255-2600
Jamie Arnold, Chief Financial Officer
FOR IMMEDIATE RELEASE
Quality Systems, Inc. Reports Fiscal 2018 First Quarter Results
IRVINE, Calif. - (August 1, 2017) - Quality Systems, Inc. (NASDAQ: QSII) announced today results for its fiscal 2018 first quarter ended June 30, 2017.
“Fiscal 2018 is off to a very solid start, as we saw strong financial results and continued to make progress on our strategic plan. During the quarter, we leveraged our platform as a service strategy to further enhance our solution offerings and enhance the value we bring to our clients. Furthermore, the significant modifications we’ve made to our business model will simplify the process and increase the ease of partnering with NextGen going forward. I feel very confident in our position within the market and our ability to drive bookings growth in the back half of fiscal 2018,” commented Rusty Frantz, President and Chief Executive Officer of Quality Systems, Inc.
Revenues for the fiscal 2018 first quarter of $130.9 million compared to $122.2 million a year-ago. On a GAAP basis, net income for the 2018 first quarter was $3.9 million, compared with net loss of $647 thousand in the 2017 first quarter. Non-GAAP net income for the 2018 first quarter was $10.5 million compared with non-GAAP net income of $9.3 million in the 2017 first quarter.
On a GAAP basis, fully diluted earnings per share was $0.06 in the fiscal 2018 first quarter compared with a loss per share of $0.01 for the same period a year ago. On a non-GAAP basis, fully diluted earnings per share for the fiscal 2018 first quarter was $0.17 versus $0.15 reported in the first quarter a year ago.
Fiscal 2018 Financial Outlook
For the fiscal year 2018, the Company is reiterating its revenue outlook of a range of $512 million and $530 million and adjusting its non-GAAP EPS from a range of $0.66 to $0.74 to a range of $0.62 and $0.70 to account for incremental investments in the Eagle Dream Health platform.
In other news, Jocelyn A. Leavitt, the Company’s Executive Vice President, General Counsel and Secretary, informed the Board of Directors of the Company on July 31, 2017 that she will be resigning from her position. Ms. Leavitt has been with the Company since December 2011, serving first as the Company’s
The following information was filed by Quality Systems, Inc (QSII) on Tuesday, August 1, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.