Quality Systems posts increased income for FY10, Q4
Quality Systems, the parent of NextGen Healthcare Information Systems, has reported the positive financial results for its fiscal 2010 fourth quarter and year, which ended March 31.
Quality Systems also posted record net revenues of $78.5 million in the 2010 fourth quarter, an increase of 19 percent from $65.8 million generated during the same quarter of the prior year. However, the Irvine, Calif., company said that its fourth quarter results were negatively impacted by amortization of acquired intangibles and transaction costs related to the acquisition of Opus Healthcare Solutions.
Net income for fiscal year 2010 was $48.4 million, an increase of 5 percent from fiscal 2009 net income of $46.1 million, according to Quality Systems. Revenue for the fiscal year, which ended March 31, was $291.8 million, an increase of 19 percent when compared with fiscal year 2009 revenue of $245.5 million.
The company also announced the resignation of Chief Operating Officer Philip N. Kaplan, and operational responsibility of this unit has been assumed by Patrick Cline, the company’s president.
Quality Systems also posted record net revenues of $78.5 million in the 2010 fourth quarter, an increase of 19 percent from $65.8 million generated during the same quarter of the prior year. However, the Irvine, Calif., company said that its fourth quarter results were negatively impacted by amortization of acquired intangibles and transaction costs related to the acquisition of Opus Healthcare Solutions.
Net income for fiscal year 2010 was $48.4 million, an increase of 5 percent from fiscal 2009 net income of $46.1 million, according to Quality Systems. Revenue for the fiscal year, which ended March 31, was $291.8 million, an increase of 19 percent when compared with fiscal year 2009 revenue of $245.5 million.
The company also announced the resignation of Chief Operating Officer Philip N. Kaplan, and operational responsibility of this unit has been assumed by Patrick Cline, the company’s president.