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 Second Quarter Results
IRVINE, Calif. - (October 26, 2017) - Quality Systems, Inc. (NASDAQ: QSII) announced today results for its fiscal 2018 second quarter ended September 30, 2017.
“We delivered a solid second quarter with continued improvements in customer satisfaction and attrition. Our clients are excited about our new Entrada and Eagle Dream solutions, and we are beginning to see traction in both areas. While bookings came in light this quarter, our improving attrition rates and increased percentage of recurring revenue enables us to guide to the higher end of our revenue outlook for this year and reinforces our belief in our multi-year growth thesis,” commented Rusty Frantz, President and Chief Executive Officer of Quality Systems, Inc.
Revenues for the fiscal 2018 second quarter of $132.6 million compared to $127.2 million a year-ago. On a GAAP basis, net income for the 2018 second quarter was $8.0 million, compared with $4.0 million in the 2017 second quarter. Non-GAAP net income for the 2018 second quarter was $14.2 million compared with non-GAAP net income of $14.4 million in the 2017 second quarter.
On a GAAP basis, fully diluted earnings per share was $0.13 in the fiscal 2018 second quarter compared with $0.06 per share for the same period a year ago. On a non-GAAP basis, fully diluted earnings per share for the fiscal 2018 second quarter was $0.22 versus $0.23 reported in the second quarter a year ago.
Fiscal 2018 Financial Outlook
For the fiscal year 2018, the Company is raising the bottom end of its revenue outlook to a range of $522 million to $530 million from a range of $512 to $530 million. The Company is also narrowing its fiscal 2018 non-GAAP EPS outlook to $0.64 to $0.68 from a range of $0.62 to $0.70.
Conference Call Information
Quality Systems will host a conference call to discuss its fiscal 2018 second quarter results on Thursday, October 26, 2017 at 8:30 AM ET (5:30 AM PT). Shareholders and interested participants may listen to a live broadcast of the conference call by dialing 866-750-8947 or 720-405-1352 for international callers, and referencing participant code 94048868 approximately 15 minutes prior to the call. A live webcast of the conference call will be available on the investor relations section of the company's web site and an audio
The following information was filed by Quality Systems, Inc (QSII) on Thursday, October 26, 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.