The stock price of Quality Systems Inc., parent company of NextGen Healthcare Information Systems, dropped 15% over two trading days after reporting increased revenue but flat profit during the third quarter of fiscal 2010.
For the quarter ended Dec. 31, Irvine, Calif.-based QSI had $13.2 million in net income or 46 cents per share, unchanged from the third quarter of fiscal year 2009. Revenue increased 14% to $75 million. NextGen during the quarter saw operating income increase 8% to $24.5 million while revenue rose 15% to $70.6 million.
QSI's operating expenses increased 16.5% in the third quarter compared with the same period a year ago. The company continues to make investments to ensure it is prepared as the stimulus package's I.T. incentives take effect during the next three years, says Steven Plochocki, CEO.
Still, QSI's stock price fell 5.4% on Jan. 28 when third quarter results were released and another 9.6% on Jan. 29. More information is available at qsii.com.
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