Santa Ana’s Quality Systems Expects First-Quarter Loss
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Quality Systems Inc. said Monday it expects to post a loss for the first quarter ended June 30, with revenue below analysts’ expectations.
The Santa Ana company, which develops and markets computerized medical and dental management systems, said its Clinitec and MicroMed units “materially missed” revenue and profit targets, with each experiencing significant losses.
For the first quarter a year ago, the company posted a net loss of $2.7 million, or 46 cents a share, on revenue of $7.1 million. The loss included a $4.7-million charge related to the company’s acquisition of MicroMed.
Quality Systems disclosed the quarterly financial estimate after the U.S. markets closed. The stock closed at $8.94, off 6 cents a share, on the Nasdaq market. The company said it plans to report the results about Aug. 10.
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