Quality Systems Inc. of Irvine reported quarterly results Thursday that fell short of expectations.
Quality, which makes software that doctors and dentists use to manage their practices, said its profit for the June quarter was $10.3 million, down 7% from a year earlier.
Analysts expected Quality to make $12.5 million in the quarter.
Quarterly revenue rose 21% to $67 million but was below Wall Street’s projection of $68 million.
Quality said that its results were affected by customers’ buying delays related to uncertainty surrounding President Obama’s economic stimulus bill, which was signed earlier this year.
Some analysts have said that Quality and its competitors would benefit from $20 billion earmarked for healthcare information technology spending in the bill.
Investors more or less shook off the news. Shares closed down 3% with a market value of $1.6 billion.
The stock has been among the stronger performers locally this year, gaining about 30% since January.
