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Quality Systems reports strong gain in Q3

Quality Systems reports strong third-quarter on acquisitions

ap
On Thursday January 29, 2009, 6:40 pm EST

IRVINE, Calif. (AP) -- Medical records and billing software maker Quality Systems Inc. reported Thursday that its net income jumped 17 percent in the third-quarter due to significant growth and acquisitions.

For the quarter ended Dec. 31, net income grew to $13.2 million, or 46 cents per share for the quarter, up from $11.2 million, or 40 cents per share in the same quarter of last year.

Revenue grew 36 percent to $65.5 million for the quarter. The company said its saw significant contributions from its recent acquisition of Healthcare Strategic Initiatives and Practice Management Partners.

Analysts polled by Thomson Reuters expected the comapny to earn 45 cents per share for the quarter on revenue of $62.88 million.

Shares of Quality Systems rose $3.10, or nearly 8 percent, in after-hours trading after closing at $39.15 Thursday.

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