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Quality Systems sees 24% increase in Q4 revenues

Quality Systems (QSI) has posted total revenues of $97.11m for the fourth quarter ended 31 March 2011, an increase of 24%, compared to $78.51m for the same period in 2010.

The company has reported net income of $18.55m for the fourth quarter of 2011, compared to $13.06m for the same period in 2010.

QSI’s income from operations were $28.46m, as compared to $20.04m for the comparable period prior year.

The company has earned gross profit of $63.94m for the fourth quarter of 2011, compared to $50.22m for the same period in 2010.

For the full year ended 31 March 2011, the company has posted total revenues of $353.36m, compared to $291.81m for the same period in 2010.

The company’s net income was $61.61m for the full year ended 31 March 2011, compared to $48.38m for the same period in 2010.

Gross profit was $225.88m, compared to $181m for the same period in 2010.

QSI’s operations from income were $94.09m, as compared to $75.72m for the same period last year.

QSI CEO Steven Plochocki said the last quarter of their fiscal year marked the first full quarter under the stimulus plan of The American Recovery and Reinvestment Act.

Quality Systems (QSI) and its NextGen Healthcare subsidiary develop and market computer-based practice management and electronic health records (EHR) solutions as well as revenue cycle management applications and connectivity services for medical and dental group practices and hospitals throughout the US.