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Quality Systems, Inc. Prevails in Board of Directors Litigation
Monday March 27, 8:00 am ET
IRVINE, Calif.--(BUSINESS WIRE)--March 27, 2006--Quality Systems, Inc. (NASDAQ:QSII - News) today announced that the Company has prevailed in the Orange County Superior Court litigation brought by Ahmed Hussein contesting the results of the Company's 2005 Board of Directors election. Judge William M. Monroe issued a decision upholding the validity of the previously announced election results and finding that plaintiff was not entitled to equitable relief.
Chairman of the Board Sheldon Razin commented, "The Company is pleased that the Court has rejected Mr. Hussein's challenge and confirmed the election and the judgment of the independent inspector of elections. It is unfortunate, however, that Mr. Hussein has been able to use this lawsuit to distract the Company and consume our shareholders' resources for the past five months."
About Quality Systems
Quality Systems, Inc. and its NextGen Healthcare Information Systems subsidiary develop and market computer-based practice management, patient records, and connectivity applications for medical and dental group practices. Visit www.qsii.com and www.nextgen.com for additional information.
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.
Contact:
Quality Systems, Inc.
Sheldon Razin, 949-255-2600
www.qsii.com
or
CCG Investor Relations
Sean Collins, 310-477-9800
www.ccgir.com
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Source: Quality Systems, Inc.
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