UPDATE: Quality Systems Posts FQ3 Profit

reported a profit in its fiscal third quarter. The Irvine, California-based company posted quarterly net income of $6.7 million, or $0.11 per share, versus a year-ago loss of $12.6 million, or $0.21 per share. On a non-GAAP basis, earnings per share rose 45% to $0.16 from $0.11. Its revenue climbed 13% to $123.4 million from $108.9 million. However, analysts were estimating earnings of $0.14 per share on revenue of $121.3 million. At quarter-end, Quality Systems had $124.8 million of cash and investments. Quality Systems' board declared a quarterly cash dividend of $0.175 per share. During the third quarter, Quality Systems' pipeline grew to $162.3 million. “We are pleased that this quarter's financial performance clearly demonstrates the progress the Company is making across all fronts of our business. The momentum we have been building over the past several quarters resulted in increases in both revenue and earnings, primarily driven by tailwinds from our Revenue Cycle Management Services division and broader adoption of our Mirth-based interoperability products. This, coupled with wider acceptance of our population health and EDI solutions, all contributed to the improvements we saw this quarter,” noted Steven T. Plochocki, president and chief executive officer. Quality Systems shares gained 0.19% to close at $16.10 yesterday.