IRVINE, Calif.--(BUSINESS WIRE) - October 31, 2008-- Quality Systems, Inc. (NASDAQ:QSII - news) today announced the results of operations for its fiscal 2009 second quarter ended September 30, 2008. The Company posted record net revenues of $59.0 million in the second quarter, an increase of 31% from the $45.1 million generated during the same quarter of the prior year.
The Company reported net income of $10.5 million, an increase of 9% over net income of $9.7 million earned in the comparable quarter of the prior year. Fully diluted earnings per share was $0.37 in the quarter, an increase of 6% over the fully diluted $0.35 per share earnings recorded in same quarter last year.
For the quarter, the Company's NextGen Healthcare Information Systems division posted record revenue of $54.9 million, up 33% over the same quarter prior year and record operating income of $19.3 million, up 23% over the same quarter of the prior year. The Company's Healthcare Strategic Initiatives acquisition, contributed approximately $4.2 million to NextGen revenue during the quarter.
Proxy related expenses and higher than normal legal expenses reduced earnings by approximately $0.05 per share in the quarter.
Quality Systems, Inc. will hold a conference call to discuss first quarter financial results October 31, 2008 at 11:00 a.m. EDT (8:00 a.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 Friday, October 31, 2008 at 2:00 p.m. EDT through Friday, November 7, 2008 at midnight EST. To access the replay dial 800-642-1687 and enter the conference ID number 70834963.
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.