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Quality Systems down 13% after mixed results, license/hardware drop

Jul. 23, 2015 1:50 PM ETNextGen Healthcare, Inc. (NXGN) StockBy: Eric Jhonsa, SA News Editor
  • Quality Systems (QSII) has made new 2015 lows after missing Q2 revenue estimates (while beating on EPS).
  • Software license/hardware revenue (drives future support/maintenance revenue) fell 18% Y/Y in Q2 to $16.2M. Software-related subscription services were better, rising 26% to $12.2M. Support/maintenance +7% to $43.7M; revenue cycle management and related services  +21% to $20.2M; electronic data interchange and data services +10% to $20.2M.
  • GAAP operating expenses rose 6% Y/Y to $57.2M. QSII ended Q2 with $116.8M in cash/investments, and no debt.
  • Q2 results, PR

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