Exhibit 99.1

 

Press Release dated May 29, 2009

 


 

For Further Information, Contact:

Quality Systems, Inc.

Susan J. Lewis

18111 Von Karman Avenue, Suite 600

Phone: (303) 804-0494

Irvine, CA 92612

slewis@qsii.com

Phone: (949) 255-2600

Paul Holt, CFO, pholt@qsii.com

 

FOR IMMEDIATE RELEASE

 

MAY 29, 2009

 

QUALITY SYSTEMS REPORTS FOURTH QUARTER AND  

FISCAL YEAR-END RESULTS

IRVINE, Calif. — May 29, 2009-- Quality Systems, Inc. (NASDAQ:QSII - news) today announced the results of operations for its fiscal 2009 fourth quarter and fiscal year ended March 31, 2009. The Company posted record net revenues of $65.8 million in the fourth quarter, an increase of 29% from the $51.2 million generated during the same quarter of the prior year. The Company reported net income of $11.4 million, up slightly when compared to net income of $11.3 million earned in the comparable quarter of the prior year. Fully diluted earnings per share was $0.40 in the quarter, a decrease of 2% over the fully diluted $0.41 per share earnings recorded in the same quarter last year.

The Company’s results were impacted by the delays in purchasing decisions related to uncertainty surrounding the American Recovery and Reinvestment Act of 2009, which was signed into law in February 2009.

For the quarter, the Company’s NextGen Healthcare Information Systems division posted record revenue of $62.1 million, up 31% over the same quarter of the prior year and record operating income of $21.7 million, up 13% over the same quarter of the prior year.

Revenue for the fiscal year ended March 31, 2009 was $245.5 million, an increase of 32% over fiscal year 2008 revenue of $186.5 million. Net income for fiscal year 2009 was $46.1 million, an increase of 15% over fiscal 2008’s net income of $40.1 million. Fully diluted earnings per share increased to $1.62 in fiscal year 2009 from $1.44 earned during fiscal year 2008, an increase of 13%.

Quality Systems, Inc. will hold a conference call to discuss fourth quarter and fiscal year end financial results on May 29, 2009 at 9:00 am ET (6:00 a.m. PT). All participants should dial 1-877-941-8610 at least ten minutes prior to the start of the call. International callers should dial 1-480-629-9819. To hear a live web simulcast or to listen to the archived web cast following completion of the call, please visit the company web site at www.qsii.com, click on the "Investor Relations" tab, then select "Conference Calls," to access the link to the call. To listen to a telephone replay of the conference call, please dial 1-800-406-7325 and enter reservation identification number 4085340. The replay will be available from approximately 12:00 PM ET on Friday, May 29, 2009, through 11:59 PM ET on Friday, June 5, 2009.

A transcript of the conference call will be made available on the QSII website (www.qsii.com).

Date and Location of 2009 Annual Shareholders’ Meeting

The Annual Shareholders’ Meeting will be held on August 13, 2009 at 1:00 P.M. Pacific Time at The Center Club, 650 Town Center Drive in Costa Mesa, Calif. Holders of record as of June 22, 2009 are eligible to vote and attend. A proxy statement with more information regarding these matters will be

 


The following information was filed by Quality Systems, Inc (QSII) on Monday, June 1, 2009 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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