CPSI, QSI & Omnicell Report Results

Publicly traded health information technology vendors are starting to report financial results for the fourth quarter and all of 2010. For instance:

Community hospital information systems vendor Computer Programs and Systems Inc. saw fourth quarter net income increase 85 percent to $6.7 million as revenue grew 28 percent to $43.1 million. For all of 2010, CPSI had net income of $18.7 million, up 23 percent, while revenue rose 20 percent to $153.2 million.

Hospital medication and supply management software vendor Omnicell had fourth quarter income of $700,000, up from $600,000 during the same period a year earlier. Quarter revenue rose nearly 5 percent to $57.3 million. For the year, income totaled $4.9 million compared with $400,000 in 2009, and revenue increased 4 percent to $222.4 million.

Quality Systems Inc., which gets most of its profit and revenue from its NextGen subsidiary, earned $17.5 million in the third quarter of fiscal 2011, up 33 percent. Revenue grew 23 percent to $91.9 million. The company increased its cash dividend by a nickel to 35 cents per share.

--Joseph Goedert