The 200 day moving average is down at $36 so if that is violated we will need to cut back to preserve capital; as for today I added a bit in the low $37s since I have so little long exposure and need to offset my recent additions on the short side with something. Full report here - revenue is mixed between organic growth and acquisition growth.
For the quarter, the Company’s NextGen Healthcare Information Systems division posted record revenue of $61.5 million, up 40% when compared with the same quarter in the prior year and record operating income of $22.8 million, up 28% over third quarter last year. The Company’s Healthcare Strategic Initiatives acquisition contributed approximately $4.9 million to NextGen revenue during the quarter. The Company’s Practice Management Partners acquisition, which closed on October 28, 2008, contributed approximately $2.6 million to NextGen revenue during the quarter.
- Medical records and billing software maker Quality Systems Inc. reported Thursday that its net income jumped 17 percent in the third-quarter due to significant growth and acquisitions.
- For the quarter ended Dec. 31, net income grew to $13.2 million, or 46 cents per share for the quarter, up from $11.2 million, or 40 cents per share in the same quarter of last year.
- Revenue grew 36 percent to $65.5 million for the quarter. The company said its saw significant contributions from its recent acquisition of Healthcare Strategic Initiatives and Practice Management Partners.
Analysts polled by Thomson Reuters expected the comapny to earn 45 cents per share for the quarter on revenue of $62.88 million.
No guidance offered in the press release...
Long Quality Systems in fund; no personal position
