Quality Systems’ net income rose 14 percent in the fiscal second quarter aided in part by higher revenue from training services, but results missed analysts’ expectations and its shares slid.
The medical records and billing software maker also said Friday that it is declaring a regular quarterly dividend of 30 cents. The dividend will be paid on Jan. 5, 2011 to shareholders of record Dec. 17.
Net income improved to $13.4 million, or 46 cents per share, compared with $11.8 million, or 41 cents per share, a year earlier.
That’s below the 49 cents per share analysts polled by Thomson Reuters had forecast.
Shares of Quality Systems fell $2.90, or 4.3 percent, to $64.10 in afternoon trading. Over the past year, the stock has traded in a range of $51.30 to $68.89.
For the three months ended Sept. 30, revenue climbed 14 percent to $81.5 million from $71.7 million. Implementation and training services revenue increased to $4.5 million from $3.4 million.
Wall Street expected $85.7 million.
Quality Systems Inc. is based in Irvine, Calif.