Quality Systems, Inc.

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  • Mon, Feb. 1, 10:54 AM
    • Down 19% on Friday after missing FQ3 sales estimates (while beating on EPS) and reporting a 25% Y/Y software license/hardware revenue drop, Quality Systems (NASDAQ:QSII) is recovering a chunk of its losses today.
    • On its earnings call (transcript), the healthcare hardware/software provider blamed its FQ3 performance on "hospital unit sales as well as choppiness of the ambulatory software license sales and the impact on related professional service revenues and maintenance," along with a $1.6M software revenue deferral.
    • QSII added it anticipates "continued short-term choppiness in quarterly revenues," and promised it will "continue to monitor and manage our expenses proactively to help ensure we achieve a robust bottom line result."
    | Mon, Feb. 1, 10:54 AM
  • Fri, Jan. 29, 12:44 PM
    | Fri, Jan. 29, 12:44 PM
  • Thu, Jan. 28, 5:50 PM
    • Quality Systems (NASDAQ:QSII) has fallen to $14.80 after missing FQ3 revenue estimates and slightly beating on EPS. Weighing on sales: Software license/hardware revenue (drives future maintenance/support revenue) fell 25% Y/Y to $16.2M.
    • Software-related subscription sales fell 1% to $11.7M; maintenance/support revenue fell 8% to $39.5M. Revenue cycle management & related service revenue rose 6% to $21.6M; electronic data interchange & data services revenue rose 8% to $20.6M; professional services revenue fell 3% to $7.4M.
    • Quality Systems' FQ3 results, earnings release
    | Thu, Jan. 28, 5:50 PM
  • Thu, Jan. 28, 5:38 PM
    | Thu, Jan. 28, 5:38 PM | 6 Comments
  • Thu, Jan. 28, 4:02 PM
    • Quality Systems (NASDAQ:QSII): FQ3 EPS of $0.16 beats by $0.01.
    • Revenue of $117.03M (-5.2% Y/Y) misses by $8.47M.
    • Press Release
    | Thu, Jan. 28, 4:02 PM
  • Wed, Jan. 27, 5:35 PM
  • Mon, Jan. 4, 2:44 PM
    • Raymond James has simultaneously upgraded Quality Systems (QSII +4.3%) to Outperform and downgraded healthcare IT peer Allscripts (MDRX -5.8%) to Market Perform.
    • The Allscripts downgrade comes after shares closed on Thursday just $0.40 below a 52-week high of $15.78. Allscripts trades for 25x a 2016 EPS consensus of $0.58, and Quality Systems for 23x a 2016 EPS consensus of $0.72.
    | Mon, Jan. 4, 2:44 PM
  • Nov. 3, 2015, 4:25 PM
    • In addition to missing Q3 revenue estimates (while posting in-line EPS), Cerner (NASDAQ:CERN) is guiding for Q4 revenue of $1.15B-$1.2B and EPS of $0.56-$0.58, below a consensus of $1.24B and $0.61. New business bookings are expected to total $1.45B-$1.55B.
    • Bookings (boosted by the Siemens Health acquisition) rose 44% Y/Y in Q3 to $1.59B, topping revenue of $1.13B (+34%, also lifted by the Siemens deal). Backlog rose 37% to $13.9B. System sales totaled $325.1M, support, maintenance, and services $783.8M, and reimbursed travel $18.9M.
    • GAAP operating expenses rose 41% to $721.9M, and free cash flow totaled $111.4M (compares with adjusted net earnings of $188.7M). Cerner ended Q3 with $463M in cash, and $630M in long-term debt.
    • Shares have fallen to $59.53 after hours. Peer Quality Systems (NASDAQ:QSII) is down 1.5% to $14.06, after rising 3.7% in regular trading.
    • Cerner's Q3 results, PR
    | Nov. 3, 2015, 4:25 PM
  • Oct. 30, 2015, 5:46 PM
    • Quality Systems (NASDAQ:QSII) is acquiring HealthFusion, a provider of cloud-based electronic health record (EHR) and patient billing software, for $165M in cash up-front + up to $25M in contingent payments.
    • QSII: "HealthFusion's 100 percent cloud-based MediTouch platform is currently used by over 3,000 physician practices, hospital ambulatory centers and medical billing services (totaling more than 6,000 subscribers). The company has historically achieved meaningful double-digit annual revenue growth rates, with a recent annualized revenue pace exceeding $30 million. The contingency for full payment of the earn-out is based on the generation of $43 million of HealthFusion product revenues during calendar 2016."
    • The company plans to finance $115M of the purchase price through a $200M credit facility, and the rest via cash on hand. For reference, QSII closed today with an $855M market cap, and had a 2015 revenue consensus of $501.1M.
    | Oct. 30, 2015, 5:46 PM
  • Oct. 22, 2015, 4:17 PM
    • Quality Systems (NASDAQ:QSII): FQ2 EPS of $0.21 beats by $0.07.
    • Revenue of $125.37M (+4.0% Y/Y) beats by $0.59M.
    | Oct. 22, 2015, 4:17 PM
  • Oct. 21, 2015, 5:35 PM
  • Aug. 17, 2015, 12:20 PM
    • Quality Systems (QSII -0.2%) CTO Steve Puckett has resigned "by mutual agreement with the company." COO Daniel Morefield will be responsible for the company's tech ops, as it evaluates "how to best structure its technology functions going forward, and also examine the prioritization, timing and application of investment and resources in its ongoing and contemplated technology development initiatives."
    • The announcement comes 6 weeks after Rusty Frantz took over as CEO, and less than a month after QSII reported an 18% Y/Y drop in Q2 license/hardware revenue.
    | Aug. 17, 2015, 12:20 PM
  • Jul. 23, 2015, 1:50 PM
    • Quality Systems (NASDAQ: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
    | Jul. 23, 2015, 1:50 PM
  • Jul. 23, 2015, 12:44 PM
    | Jul. 23, 2015, 12:44 PM
  • Jul. 23, 2015, 5:22 AM
    • Quality Systems (NASDAQ:QSII): FQ1 EPS of $0.16 beats by $0.01.
    • Revenue of $122.2M (+3.7% Y/Y) misses by $5.3M.
    | Jul. 23, 2015, 5:22 AM
  • Jun. 5, 2015, 4:09 PM
    • After seeing bigger losses earlier in the day, Quality Systems (NASDAQ:QSII) closed down 0.5% following news CEO Plochoki is retiring at month's end.
    • Rusty Frantz, most recently the head of medical device maker CareFusion's dispensing products division, will be QSII's new CEO. Plochocki, who has held the top job since 2008, is also stepping down from the board following QSII's Aug. 11 annual meeting.
    | Jun. 5, 2015, 4:09 PM
Company Description
Quality Systems Inc develops and markets healthcare information systems that automate certain aspects of medical and dental practices, networks of practices, ambulatory care centers, community health centers and medical and dental schools.