Quality Systems Reports Expansion
of Board of Directors
IRVINE, Calif.--(BUSINESS WIRE)--May
31, 2005--Quality Systems, Inc.
(NASDAQ:QSII - News) today announced that
its Board of Directors voted to increase
the number of authorized directors from
seven to nine.
Pat Cline, President of the Company's
NextGen Healthcare Information Systems
division and Lou Silverman, the Company's
President and Chief Executive Officer
were named to fill the new seats on the
expanded board.
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:
CCG Investor Relations
William F. Coffin or Sean Collins, 818-789-0100
www.coffincg.com
or
NextGen Healthcare Information Systems
Jennifer Kuesel, 215-657-7010
JKuesel@nextgen.com
