Ranking as 23rd of 25 Marks Company’s First Appearance on the List
IRVINE, Calif.--(BUSINESS WIRE)-- Quality Systems, Inc. (NASDAQ: QSII), a developer of a range of healthcare information systems for automating medical and dental practices as well as small hospital systems, announced today that it was included in Forbes’ annual listing of America’s 25 Fastest-Growing Tech Companies, for the first time. Quality Systems ranked 23rd in the list of top 25 companies, according to Forbes’ annual list for 2009.
The list, which is in its seventh year, appeared on the Forbes web site on April 1, 2010 and can be viewed at: http://www.forbes.com/2010/04/01/cognizant-google-riverbed-technology-data-companies-10-fast-tech.html.
To qualify for the list, companies were required to have minimum sales of $25 million and sales growth of at least 10 percent over the latest 12 months. Additionally, double-digit median three- to five-year earnings-per-share growth estimates needed to be achieved. Finally, companies were ranked on their five-year annualized sales growth, which had to be no less than 10 percent.
“We are honored to earn a position in this elite list for the first time this year, and to be in the company of such a prestigious group of companies. This ranking further validates our leadership role within the healthcare information technology (HIT) marketplace. Our entire team of professionals works hard every day to make these accomplishments possible for our company. We greatly appreciate their ongoing efforts as well as the continued support of our committed customers, who recognize the benefits of our proprietary software and services. We look forward to further strengthening our position in the evolving HIT sector, which is poised for continued rapid growth. This is fueled by incentives resulting from the American Reinvestment and Recovery Act of 2009, whose mission, among others, is to move the nation toward an electronic-based healthcare system,” commented Steven T. Plochocki, chief executive officer.
About Quality Systems, Inc.
Irvine, Calif.-based Quality Systems, Inc. and its NextGen Healthcare Information Systems subsidiary develop and market computer-based practice management, patient records and revenue cycle management applications as well as connectivity products and services for medical and dental group practices. 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. 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 timing, cost and success or failure of new product and service introductions, development and product upgrade releases; undetected errors or bugs in software; 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 Quality Systems' 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.
Quality Systems, Inc.
Susan J. Lewis, 303-804-0494
KEYWORDS: United States North America California
INDUSTRY KEYWORDS: Technology Data Management Software Practice Management Health Dental Hospitals Radiology Nursing General Health Managed Care