Quality Systems Inc. (QSII) reported a fourth-quarter net loss of $4.09 million or $0.07 per share, compared to profit of $15.07 million or $0.25 per share last year. The company noted that it recorded a goodwill impairment charge to income of $17.4 million for the fiscal 2013 fourth quarter. Proforma net income for the quarter was $12.29 million or $0.21 per share.
On average, 19 analysts polled by Thomson Reuters expected the company to report profit per share of $0.28 for the quarter. Analysts' estimates typically exclude special items.
Total revenues improved to $111.30 million from $108.99 million last year. Analysts expected revenue of $117.31 million for the quarter.
Quality Systems announced that its Board declared a quarterly cash dividend of $0.175 per share on its outstanding shares of common stock, payable to shareholders of record as of June 14, 2013 with an anticipated distribution date of July 5, 2013.
Quality Systems also reported that Michael Aghajanian was appointed to its Board of Directors, effective May 22. Aghajanian fills one of the two vacancies on the Board after recent resignations of two board members. Aghajanian was also appointed to serve on the Board's Transaction Committee.
Aghajanian has more than 30 years of engineering and operational experience. He is an adjunct professor in the engineering department at Worcester Polytechnic Institute and a frequent lecturer and supporter of the Office of Executive Education at the Paul Merage School of Business at the University of California, Irvine. Previously, Aghajanian held a variety of roles of increasing responsibility at Pittiglio Rabin Todd & McGrath, a management consultant company, culminating in his role as President and Chief Executive Officer.
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