Stock Monitor: Streamline Health Solutions Post Earnings Reporting
LONDON, UK / ACCESSWIRE / June 25, 2018 / If you want access to our free earnings report on Quality Systems, Inc. (NASDAQ: QSII), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=QSII. The Company reported its fourth quarter and full fiscal year 2018 operating and financial results on May 24, 2018. The provider of health care information system reported better than expected revenues and earnings results. Additionally, the Company provided guidance for the upcoming quarter and fiscal year.
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Earnings Highlights and Summary
For the fourth quarter of the fiscal year 2018, Quality Systems' revenues were $135.8 million, up 4% compared to $132.4 million in Q4 FY17. The Company's revenue numbers beat analysts' estimates of $131.8 million.
On a GAAP basis, Quality Systems' net loss was $11.0 million, or $0.17 loss per diluted share, in Q4 FY18 compared to a net income of $4.4 million, or $0.07 per diluted share, in Q4 FY17. The Company's non-GAAP net income was $10.4 million, or $0.16 per diluted share, in the reported quarter compared to $12.7 million, or $0.21 per diluted share, in the year earlier same quarter. Quality Systems' earnings per share (EPS) exceeded Wall Street's estimates of $0.16.
For the full fiscal year ended March 31, 2018, Quality Systems' revenues reached $531.0 million, up 4% compared to $509.6 million in the full fiscal year 2017.
Quality Systems' GAAP net income was $2.4 million, or $0.04 per diluted share, in FY18 versus $18.2 million, or $0.29 per diluted share, in FY17. The Company's non-GAAP net income was $44.5 million, or $0.70 per diluted share, in FY18 compared to $50.8 million, or $0.82 per diluted share, in FY17.
During Q4 FY18, Quality Systems' software, license, and hardware revenues decreased 7% to $15.4 million on a y-o-y basis. The Company's subscription revenues increased 12% to $26 million versus the year ago comparable period; primarily driven by its NextGen Office solution, formerly known as MediTouch; and contribution from analytics and mobile solutions, the Entrada and EagleDream acquisitions, which were completed in April 2017 and August 2017, respectively.
For Q4 FY18, Quality Systems' support and maintenance revenues fell 3% to $40.6 million compared to the year ago same period, due to the uptick in legacy maintenance attrition. For the reported quarter, the Company's revenue cycle management and related service revenues decreased 4% to $19.7 million on a y-o-y basis. Quality Systems' electronic data interchange and related services revenues remained flat at $23.3 million on a y-o-y basis.
During Q4 FY18, 81% of Quality Systems' total revenues was recurring in nature compared to 82% a year ago; and amounted to $110 million, increasing 1% compared to the year ago corresponding period. Quality Systems' bookings came in at $36.8 million in the reported quarter, up 9% on a y-o-y basis.
As of March 31, 2018, Quality Systems had $31.2 million of cash and cash equivalents, and $37 million outstanding against its revolving credit agreement. The Company's capital expenditure in the reported quarter was $2.2 million.
For the full fiscal year 2019, Quality Systems is forecasting revenues to be between $532 million and $548 million. The Company is expecting non-GAAP earnings per diluted share to be in the range of $0.70 and $0.78.
Stock Performance Snapshot
June 22, 2018 - At Friday's closing bell, Quality Systems' stock marginally dropped 0.54%, ending the trading session at $20.14.
Volume traded for the day: 254.04 thousand shares.
Stock performance in the last month – up 37.57%; previous three-month period – up 52.58%; past twelve-month period – up 16.89%; and year-to-date – up 48.31%
After last Friday's close, Quality Systems' market cap was at $1.28 billion.
Price to Earnings (P/E) ratio was at 169.24.
The stock is part of the Technology sector, categorized under the Healthcare Information Services industry.
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