Irvine healthcare software maker Quality Systems Inc. on Friday reported a profit for its most recent quarter that missed analysts’ expectations but beat on revenue.
Quality posted a profit of $12.1 million in the three months ended June 30, which was 10% higher than a year earlier but was below the consensus estimate of $13.6 million that analysts were looking for.
The company makes software that doctors and dentists use to manage their practices. It’s expected to get a big boom from federal stimulus spending and healthcare reform, though it’s been slow to come.
Quality has historically been a Wall Street favorite, although its stock has cooled off somewhat this year as investors await federal spending.
Revenue was up 25% to $82.9 million, surpassing analysts’ expectation of $80.9 million.
Quality does not provide quarterly financial guidance.
Analysts expect it to make $14.8 million on revenue of $85.8 million in the current quarter.