Oct. 22, 2009 (Business Wire) -- Quality Systems, Inc. (NASDAQ: QSII), a developer of a range of information systems for automating medical and dental practices, announced today that the company ranked third in Forbes 2009 listing of America’s 200 Best Small Companies, moving up a notch from its fourth place position in 2008. The list appeared in the Forbes print issue dated November 2, 2009.
To qualify for the lists, companies must have had sales of between $5 million and $750 million and a stock price no lower than $5.00. The ranking is based on earnings growth, sales growth and return on equity in the last 12 months and over five years. Forbes also compared a company's stock performance with that of its industry peers.
As listed in the Forbes story, Quality Systems’ sales grew 28 percent, earnings per share rose 33 percent and return on equity increased 35 percent, on average during the past five years.
“We are honored once again to be recognized by Forbes as one of the nation’s top best small companies and to rank in the top five. This is the ninth consecutive year in which Forbes has rated Quality Systems in their listing, and each year we seem to move up a notch. Quality Systems has witnessed significant growth both organically and through acquisition, particularly over the past five years. We want to thank our dedicated employees for their hard work and our committed customers for their support. All of this contributed to our ranking and to the climb we have seen over the years,” noted Steven T. Plochocki, president and CEO.
“We remain focused on developing outstanding products and offering exemplary service that allows medical and dental practices to automate their businesses, better manage patient records, improve their collections and realize better efficiencies. We appreciate the recognition we have earned from Forbes for the past nine years for our company’s growth and for the shareholder value we continue to deliver,” added Sheldon Razin, chairman of the board.
About Quality Systems, Inc.
Irvine, Calif.-based Quality Systems, Inc. and its NextGen Healthcare Information Systems subsidiary develop and market computer-based practice management, patient records and revenue cycle management applications as well as connectivity products and services for medical and dental group practices. Visit www.qsii.com and www.nextgen.com for additional information.
SAFE HARBOR PROVISIONS FOR FORWARD-LOOKING STATEMENTS
This news release may contain forward-looking statements within the meaning of the federal securities laws. Statements regarding future events, developments, the Company's future performance, as well as management's expectations, beliefs, intentions, plans, estimates or projections relating to the future (including, without limitation, statements concerning revenue and net income), are forward-looking statements within the meaning of these laws and involve a number of risks and uncertainties. Management believes that these forward-looking statements are reasonable and are based on reasonable assumptions and forecasts, however, undue reliance should not be placed on such statements that speak only as of the date hereof. Moreover, these forward-looking statements are subject to a number of risks and uncertainties, some of which are outlined below. As a result, actual results may vary materially from those anticipated by the forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: volume and timing of systems sales and installations; length of sales cycles and installation process; the possibility that the products will not achieve market acceptance; seasonal patterns of sales and customer buying behavior; the development by competitors of new or superior technologies; the timing, cost and success or failure of new product and service introductions, development and product upgrade releases; undetected errors or bugs in software; product liability; changing economic, political or regulatory influences in the health-care industry; changes in product-pricing policies; availability of third-party products and components; competitive pressures including product offerings, pricing and promotional activities; the Company's ability or inability to attract and retain qualified personnel; possible regulation of the Company's software by the U.S. Food and Drug Administration; uncertainties concerning threatened, pending and new litigation against the Company including related professional services fees; uncertainties concerning the amount and timing of professional fees incurred by the Company generally; changes of accounting estimates and assumptions used to prepare the prior periods' financial statements; general economic conditions; and the risk factors detailed from time to time in Quality Systems' periodic reports and registration statements filed with the Securities and Exchange Commission. A significant portion of the Company's quarterly sales of software product licenses and computer hardware is concluded in the last month of the fiscal quarter, generally with a concentration of such revenues earned in the final ten business days of that month. Due to these and other factors, the Company's revenues and operating results are very difficult to forecast. A major portion of the Company's costs and expenses, such as personnel and facilities, are of a fixed nature and, accordingly, a shortfall or decline in quarterly and/or annual revenues typically results in lower profitability or losses. As a result, comparison of the Company's period-to-period financial performance is not necessarily meaningful and should not be relied upon as an indicator of future performance. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
