quality systems inc (QSII) Key Developments
Quality Systems Inc. Announces Executive Changes
Nov 6 15
Quality Systems Inc. announced the election of Jeffrey H. Margolis as the independent chairman of the board of directors, effective, November 6, 2015. Margolis succeeds Sheldon Razin, founder, who has served as the chairman of the board since the company’s inception in 1974. Concurrently, the board elected Craig A. Barbarosh to serve as vice chairman. Margolis, brings more than 25 years of executive and board leadership in the healthcare industry to the chairman role at Quality Systems. Margolis has served as an independent director of the Quality Systems Board since 2014 and is a member of the Transaction Committee.
HealthFusion Holdings, Inc., Quality Systems Inc. - M&A Call
Oct 30 15
To discuss an agreement to acquire HealthFusion Holdings, Inc. for $165 million plus potential additional contingent consideration of up to $25 million
Quality Systems Inc. Declares Cash Dividend Payable on or About January 4, 2016
Oct 22 15
On October 21, 2015, the Board of Directors of Quality Systems Inc. declared a cash dividend of $0.175 per share on the company's outstanding shares of common stock, payable to shareholders of record as of December 11, 2015 with an anticipated distribution date on or about January 4, 2016. The $0.175 dividend is declared pursuant to the company's current practice to pay a regular dividend on the Company's outstanding shares of common stock each fiscal quarter subject to Board review and approval.
Quality Systems Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended September 30, 2015; Provides Earnings Guidance for the Second Half of Fiscal 2016
Oct 22 15
Quality Systems Inc. reported unaudited consolidated earnings results for the second quarter and six months ended September 30, 2015. For the quarter, revenue reached $125.4 million, up 4% when compared with $120.5 million last year. Income from operations was $12.5 million compared with $7.3 million last year. Income before provision for income taxes was $12.5 million compared with $7.3 million last year. Net income reached $8.3 million, versus $4.8 million for the comparable period last year, an increase of 75%. On GAAP basis, basic and fully diluted earnings per share were $0.14 compared with $0.08 for the same period last year. Non-GAAP income before provision for income taxes was $18.7 million against $11.9 million last year. Non-GAAP net income was $13 million against $7.7 million last year. On a non-GAAP basis, fully diluted earnings per share were $0.21 versus $0.13 reported in the fiscal 2015 second quarter. The company’s investing activities for the quarter were: internally generated capitalized software of $3.1 million; and investments in fixed assets of $2.7 million.
For the six months, revenue reached $247.5 million when compared with $238.4 million last year. Income from operations was $21.5 million compared with $15.0 million last year. Income before provision for income taxes was $21.8 million compared with $15.1 million last year. Net income reached $14.7 million, versus $9.9 million for the comparable period last year. Basic and fully diluted earnings per share were $0.24 compared with $0.16 for the same period last year. Non-GAAP income before provision for income taxes was $32.4 million against $23.7 million last year. Non-GAAP net income was $22.5 million against $15.5 million last year. On non-GAAP basis, fully diluted earnings per share were $0.37 versus $0.26 last year.
For the second half of fiscal 2016, before consideration of the divestiture of inpatient business unit, the company anticipates second half organic revenues to reflect continued but limited growth over first half of 2016. In light of record performance in the fourth quarter of fiscal 2015, however, year-over-year growth rate in the second half of fiscal 2016 is likely to be more muted than the 4% year-over-year growth rate achieved in the first half of fiscal 2016. The company feels that a normalized rate of 32% of revenues reflects a reasonable basis for near-term expectations. After normalizing SG&A run rate and factoring in intent to ramp investment in R&D, the company would expect a somewhat lower non-GAAP EPS margin in second half before consideration of divestiture of inpatient business unit.
Quality Systems Inc. to Report Q2, 2016 Results on Oct 22, 2015
Oct 15 15
Quality Systems Inc. announced that they will report Q2, 2016 results at 5:00 PM, Eastern Standard Time on Oct 22, 2015