Quality Systems, Inc. Chief Financial Officer Named 2012 CFO of the Year by Orange County Business Journal

Published on Friday, 03 February 2012 05:04 Written by TradersHuddle Staff

IRVINE, Calif.-( Business Wire )-

Quality Systems, Inc. (NASDAQ: QSII) announced today that Chief Financial Officer Paul A. Holt was the recipient of the Orange County Business Journal’s 2012 CFO of the Year Award, in the public companies category.

The CFO of the Year Awards program is presented annually in January to area financial professionals for outstanding performance as corporate stewards for the preceding fiscal year. Awards are presented in five categories: Outstanding CFO of a Public Company; Outstanding CFO of a Private Company; Outstanding CFO of a Not-for-Profit Organization; Up & Coming financial professional (open to senior-level executives); and Lifetime Achievement. The program is in its fifth year and is presented by the Orange County Business Journal in association with the CalCPA Orange County/Long Beach Chapter.

“Paul was acknowledged in this prominent local awards program, primarily based on his consistent financial oversight of Quality Systems’ recent growth. Paul has done an excellent job of keeping the Company on sound financial footing while continually evolving the finance and accounting functions to support our growth. In fact, Paul led both due diligence and integration efforts for seven recent self-funded acquisitions, which combined, were valued at more than $85 million. We thank the judges of the CFO of the Year Awards for noting the importance of Paul’s dedication to our Company as well as his financial acumen,” noted Steven T. Plochocki, chief executive officer at Quality Systems.

Holt added: “I am truly honored that my role in the dramatic growth of Quality Systems as well as the success of these important acquisitions were recognized. This is a tribute to the entire Quality Systems team. Quality Systems has been continually recognized, particularly because of its leadership position in healthcare information technology (HCIT) and overall acceptance of electronic health records by physicians, hospitals, dental groups. It is exciting to be part of the HCIT sea change.”

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; impact of incentive payments under The American Recovery and Reinvestment Act on sales and the ability of the Company to meet continued certification requirements; 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.

Quality Systems, Inc.Susan J. Lewis, This e-mail address is being protected from spambots. You need JavaScript enabled to view it.