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Quality Systems, Inc. Earns Most Gold Awards in CEO World Awards Program
June 30, 2015 at 5:00 AM EDT

Company Dominates Competition with Six Gold Award Wins

IRVINE, Calif.--(BUSINESS WIRE)-- Quality Systems, Inc. (NASDAQ: QSII) announced today that it has earned six gold awards in the worldwide CEO World Awards program, created to honor and generate industry wide recognition of the achievements and positive contributions of CEOs worldwide in every area. The awards were presented at a gala event in San Francisco last night.

The Company earned the prestigious gold awards in the following categories:

  • Best Overall Company of the Year - Information Technology Software
  • Management Team of the Year - Information Technology Software
  • Milestone of the Year - Information Technology Software
  • Administrative Assistant to the CEO - Desiree Vale
  • CEO of the Year - Steven T. Plochocki
  • CEO Excellence of the Year - Information Technology Software

The annual CEO World Awards program emphasizes the world's best in leadership, innovation, organizational performance, new products and services, CEO case studies and customer satisfaction programs across nearly every major industry worldwide. Organizations from around the world are eligible to submit nominations including public and private, for-profit and non-profit, largest to smallest and new start-ups.

"We are honored to earn six gold awards for our organization in this international competition. Quality Systems' senior management led our team in executing a strategic plan that highlights the breadth and depth of our nearly 30 products and services aimed at helping medical providers navigate today's changing face of healthcare," said Quality Systems President and Chief Executive Officer Steven T. Plochocki.

"Under the leadership of Dan Morefield, our chief operating officer, and execution plans driven by Gary Voydanoff, executive vice president - sales and marketing, Monte Sandler, executive vice president, RCM Services and Michael Lovett, executive vice president and general manager of NextGen Healthcare, we were able to transform the company. The commitment of this leadership team, coupled with that of our nearly 3,000 employees, came to fruition during 2014 and is continuing into 2015. Their tireless efforts and dedication contributed to the 10 percent revenue growth Quality Systems delivered for fiscal 2015, propelling the Company to its $500 million revenue mark, of which 83 percent was recurring. The team's efforts also produced a 74 percent improvement in net income for fiscal 2015, and nearly $83 million in cash flow from operations, along with $131 million in cash and marketable securities with no debt. All these efforts afford Quality Systems a strong foundation from which to further grow. I am personally proud of the team and the organization's recognized accomplishments," Plochocki concluded.

About the CEO World Awards

CEO World Awards are an annual industry and peers recognition program honoring CEOs and Companies of all types and sizes in North America, Europe, Middle-East, Africa, Asia-Pacific, and Latin-America. The Annual CEO World Awards is part of the SVUS Awards recognition program from Silicon Valley in the United States of America which also includes Consumer World Awards, Customer Sales and Service World Awards, Golden Bridge Awards, Globe Fastest Growing Private Companies Awards, Info Security's Global Excellence Awards, Network Products Guide's IT World Awards, Pillar Employee Recognition World Awards, PR World Awards, and Women World Awards. Learn more about The CEO World Awards at www.ceoworldawards.com.

About Quality Systems, Inc.

Irvine, Calif.-based Quality Systems, Inc. and its NextGen Healthcare subsidiary develop and market computer-based practice management, electronic health records and revenue cycle management applications as well as connectivity products and services for medical and dental group practices and small hospitals. Visit www.qsii.com and www.nextgen.com for additional information.

SAFE HARBOR PROVISIONS FOR FORWARD-LOOKING STATEMENTS

This news release may contain forward-looking statements within the meaning of the federal securities laws, including but not limited to, statements regarding future events, developments in the healthcare sector and regulatory framework, the Company's future performance, as well as management's expectations, beliefs, intentions, plans, estimates or projections relating to the future (including, without limitation, statements concerning revenue, net income, and earnings per share). Risks and uncertainties exist that may cause the results to differ materially from those set forth in these forward-looking statements. Factors that could cause the anticipated results to differ from those described in the forward-looking statements and additional risks and uncertainties are set forth in Part I, Item A of our most recent Annual Report on Form 10-K for the fiscal year ended March 31, 2015, including but not limited to: the volume and timing of systems sales and installations; length of sales cycles and the installation process; the possibility that products will not achieve or sustain market acceptance; seasonal patterns of sales and customer buying behavior; impact of incentive payments under The American Recovery and Reinvestment Act on sales and the ability of the Company to meet continued certification requirements; the development by competitors of new or superior technologies; the timing, cost and success or failure of new product and service introductions, development and product upgrade releases; undetected errors or bugs in software; product liability; changing economic, political or regulatory influences in the health-care industry; changes in product-pricing policies; availability of third-party products and components; competitive pressures including product offerings, pricing and promotional activities; the Company's ability or inability to attract and retain qualified personnel; possible regulation of the Company's software by the U.S. Food and Drug Administration; changes of accounting estimates and assumptions used to prepare the prior periods' financial statements; and general economic conditions. A significant portion of the Company's quarterly sales of software product licenses and computer hardware is concluded in the last month of a fiscal quarter, generally with a concentration of such revenues earned in the final ten business days of that month. Due to these and other factors, the Company's revenues and operating results are very difficult to forecast. A major portion of the Company's costs and expenses, such as personnel and facilities, are of a fixed nature and, accordingly, a shortfall or decline in quarterly and/or annual revenues typically results in lower profitability or losses. As a result, comparison of the Company's period-to-period financial performance is not necessarily meaningful and should not be relied upon as an indicator of future performance. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

Quality Systems, Inc.
Susan J. Lewis, 954-389-3700
slewis@qsii.com

Source: Quality Systems, Inc.

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