IRVINE, Calif.--(BUSINESS WIRE)- August 7, 2008-- Quality Systems, Inc. (NASDAQ:QSII - news) today announced the results of operations for its fiscal 2009 first quarter ended June 30, 2008. The Company posted record net revenues of $55.2 million in the first quarter, an increase of 31% from the $42.0 million generated during the same quarter of the prior year. The Company reported net income of $11.1 million, an increase of 40% over net income of $7.9 million earned in the comparable quarter of the prior year. Fully diluted earnings per share was $0.40 in the quarter, an increase of 38% over the fully diluted $0.29 per share earnings recorded in same quarter last year.
For the quarter, the Company's NextGen Healthcare Information Systems division posted record revenue of $51.2 million, up 34% over the same quarter prior year and record operating income of $19.9 million, up 43% over the same quarter of the prior year. The Company's Healthcare Strategic Initiatives acquisition, which closed on May 20, 2008, contributed approximately $1.7 million to NextGen revenue during the quarter.
On August 4, 2008, the Company's Board of Directors declared a quarterly cash dividend of $0.30 per share on the Company's outstanding shares of common stock, payable to shareholders of record as of September 15, 2008 with an anticipated distribution date on or about October 1, 2008. The $0.30 per share cash dividend represents a 20% increase in the Company's previous regular quarterly dividend of $0.25 per share.
Quality Systems, Inc. will hold a conference call to discuss first quarter financial results August 7, 2008 at 4:30 p.m. EDT (1:30 p.m. PDT). To participate in the conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: (877) 586-7724. There is no pass code required for this call. If you are unable to participate in the call at this time, a replay will be available on Thursday, August 7, 2008 at 6:30 p.m. EDT through Thursday, August 14, 2008 at midnight EDT. To access the replay dial 800-642-1687 and enter the conference ID number 59190344.
A transcript of the conference call will be made available on the QSII web site (www.qsii.com).
About Quality Systems, Inc.
Quality Systems, Inc. and its NextGen Healthcare Information Systems subsidiary develop and market computer-based practice management, patient records, revenue cycle management, connectivity, and other applications and services for medical and dental group practices. Visit www.qsii.com, www.nextgen.com and www.hsillc.com for additional information.