IRVINE, Calif.--(BUSINESS WIRE)- June 10, 2008--Quality Systems, Inc. (NASDAQ:QSII - news) today announced the results of operations for its fiscal 2008 fourth quarter and fiscal year ended March 31, 2008. The Company posted net revenue of $51.2 million in the fourth quarter, a record for the Company, and an increase of 14% from the $45.1 million generated during the same quarter last year. The Company reported record net income of $11.3 million, an increase of 32% over net income of $8.5 million earned in the comparable quarter of the prior year. Fully diluted earnings per share was $0.41 in the quarter, also a record, and an increase of 32% over the fully diluted $0.31 per share earnings recorded in the same quarter last year.
For the quarter, the Company's NextGen Healthcare Information Systems division posted record revenue of $47.3 million, up 16% over the same quarter prior year and record operating income of $19.1 million, up 24% over the same quarter of the prior year.
Revenue for the fiscal year ended March 31, 2008 was $186.5 million, an increase of 19% over fiscal year 2007 revenue of $157.2 million. Net income for fiscal year 2008 was $40.1 million, an increase of 21% over fiscal 2007's net income of $33.2 million. Fully diluted earnings per share increased to $1.44 in fiscal year 2008 from $1.21 earned during fiscal year 2007, an increase of 19%.
Quality Systems, Inc. will hold a conference call to discuss fourth quarter and fiscal year end financial results June 10, 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 Tuesday, June 10, 2008 at 6:30 p.m. EDT through Tuesday, June 17, 2008 at midnight EDT. To access the replay dial (800) 642-1687 and enter the conference ID number 50252683.
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, and connectivity and other applications and services for medical and dental group practices. Visit www.qsii.com and www.nextgen.com for additional information.