Quality Misses on Profit, In-Line on RevenueThursday, May 17, 2012
Quality Systems Inc., an Irvine healthcare technology company, today reported earnings for the three months ended March 31 that missed expectations and revenue that was in line.
Quality posted a profit of $15.1 million in the quarter, down 19% from the year-ago quarter and below analysts’ estimates of $16 million.
Revenue was up 12% to $109 million, compared to Wall Street consensus of $109.7 million.
The company, which makes software that doctors and dentists use to manage their practices, also reaffirmed its guidance for the 12 months ending in March 2013.
Quality said it could see a profit of $90.6 million to $98.3 million, based on its estimate of 20% to 25% profit growth. The current Wall Street consensus forecasts the company to make $95.4 million.
Quality said it could see revenue of $515 million to $533 million. That compares to analysts’ average forecast of $512.1 million.