Quality Systems Tops Q4 Expectations

reported better-than-expected earnings for the fiscal fourth quarter on Thursday. The Irvine, California-based company posted quarterly earnings of $10.7 million, or $0.18 per share, compared to $5.2 million, or $0.09 per share, in the year-ago quarter. Excluding one-time items, the company's earnings surged to $0.21 per share from $0.12 per share. Its revenue climbed 11 percent year-over-year to $128.4 million from $115.2 million. However, analysts were expecting a profit of $0.15 per share on revenue of $126.29 million. The average estimate among 7 Estimize users was for earnings of $0.15 per share and revenue of $126.73 million. At the end of the quarter, Quality Systems had $130.6 million in cash and investments. The company's board declared a quarterly cash dividend of $0.175 per share. "We are very pleased with the fourth quarter and fiscal 2015 results overall. This latest quarter represents the fifth consecutive period in which we delivered increases in consolidated revenue, and which culminated in a new quarterly revenue record. Our revenue growth in the 2015 fourth quarter and fiscal year demonstrates the impact of our broad-based market offerings, which now span nearly 30 products and services directly aimed at the evolving value-based Accountable Care Organization (ACO) model," Steven T. Plochocki, president and chief executive officer said. Quality Systems shares gained 2.37 percent to close at $16.43 yesterday.