Ranks 23rdin Second Appearance on the List
IRVINE, Calif.--(BUSINESS WIRE)-- Quality Systems, Inc. (NASDAQ: QSII), a developer of healthcare information systems for automating medical and dental practices as well as small hospitals, announced today that it was included in Forbes’ annual listing of America’s 25 Fastest-Growing Tech Companies, for the second consecutive year. Quality Systems ranked 23rd in the list of top 25 companies, according to Forbes’ annual list.
The list, which is in its eighth year, appeared on the Forbes website on February 16, 2011, and can be viewed at: http://ww.w.forbes.com/2011/02/16/apple-google-data-technology-fast-tech_print.html.
According to Forbes, from March 12, 2010, through Feb. 2, 2011, companies on the Nasdaq 100 Technology Sector Index were up 27%; companies on the S&P 500 lagged far behind, but still posted a 13% increase. The fast-growing technology companies on the list surpassed both indexes, growing 44% overall, or 34% excluding acquisitions. To qualify for the list, Forbes researched more than 5,000 technology companies looking for those with minimum sales of $25 million and sales growth of at least 10 percent over the latest 12 months. Requirements also included median long-term (three-to-five year) earnings-per-share growth estimates to be greater than 10%. Lastly, companies were ranked on their five-year sales growth, which needed to be in the double-digits annually.
“For the second time, Quality Systems is ranked one of the 25 fastest-growing technology companies in the nation by Forbes. This year, we are in the company of extraordinary global technology leaders such as Google and Apple, certainly an impressive place to be. We are honored to be recognized by Forbes, particularly in light of the current timing within the healthcare information technology sector (HCIT). With the incentives just now kicking in from the stimulus plan under the American Reinvestment and Recovery Act of 2009, the electronic health records (EHR) sector stands to experience extraordinary growth amid the sea-change occurring in our nation’s healthcare system. Quality Systems is in a strong position as it participates in this transformation,” explained Steven T. Plochocki, chief executive officer.
About Quality Systems, Inc.
Irvine, Calif.-based Quality Systems, Inc. and its NextGen Healthcare subsidiary develop and market computer-based practice management, electronic health records and revenue cycle management applications as well as connectivity products and services for medical and dental group practices and small hospitals. 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: the volume and timing of systems sales and installations; length of sales cycles and the installation process; the possibility that products will not achieve or sustain 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 the Company’s 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.
CONTACT:
Quality Systems, Inc.
Susan J. Lewis, 303-804-0494
[email protected]
KEYWORDS: United States North America California
INDUSTRY KEYWORDS: Technology Data Management Hardware Software Practice Management Health Dental Hospitals Radiology Other Health Nursing Managed Care
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