-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Cx9bwIbno8J0fJeLEACr+rM6VwCy+vDXNXJsIh5tcInPvlZuUzE6NK04nzVfY8w+ fnqf6VrsCTLMTNj0IV5TVQ== 0001169232-09-002921.txt : 20090604 0001169232-09-002921.hdr.sgml : 20090604 20090604143938 ACCESSION NUMBER: 0001169232-09-002921 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20090529 ITEM INFORMATION: Results of Operations and Financial Condition FILED AS OF DATE: 20090604 DATE AS OF CHANGE: 20090604 FILER: COMPANY DATA: COMPANY CONFORMED NAME: QUALITY SYSTEMS INC CENTRAL INDEX KEY: 0000708818 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373] IRS NUMBER: 952888568 STATE OF INCORPORATION: CA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12537 FILM NUMBER: 09873875 BUSINESS ADDRESS: STREET 1: 18191 VON KARMAN AVENUE CITY: IRVINE STATE: CA ZIP: 92612 BUSINESS PHONE: 7147317171 MAIL ADDRESS: STREET 1: 18191 VON KARMAN AVENUE STREET 2: SUITE 450 CITY: IRVINE STATE: CA ZIP: 92612 8-K 1 d77164_8-k.htm CURRENT REPORT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

May 29, 2009

Date of Report

(Date of earliest event reported)

 

QUALITY SYSTEMS, INC.

(Exact name of registrant as specified in its charter)

 

California

(State or other jurisdiction of incorporation)

 

 

0-13801

95-2888568

 

(Commission File No.)

(IRS Employer Identification Number)

 

18111 Von Karman Avenue, Suite 600

Irvine, California 92612

(Address of Principal Executive Offices)

 

(949) 255-2600

(Registrant’s Telephone Number, Including Area Code)

Not applicable.

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below):

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 


 

Item 2.02.

Results of Operations and Financial Condition

On May 29, 2009, Quality Systems, Inc. (the “Company”) held a conference call concerning its financial performance for the period ended March 31, 2009. The Company shall file a copy of the transcript of the conference call as soon as available by the amendment to the Form 8-K. The conference call contains forward-looking statements regarding the Company and includes cautionary statements identifying important factors that could cause actual results to differ materially from those anticipated.

Use of Non-GAAP Financial Measures

 

The Company from time to time discloses its Days Sales Outstanding (“DSO”), which is a non-GAAP financial measure. During the quarter ended March 31, 2009, DSO was 125 days. The Company calculates DSO as follows: Net revenue for the quarter is annualized (multiplied by four) and then divided by 365 days to yield an average daily sales amount. The balance of accounts receivable net of any reserves for bad debts is then divided by that average daily sales amount resulting in a DSO figure. For the quarter ended March 31, 2009, the calculation was as follows:

 

Quarterly Revenue:

$65,831,000

 

Annualized (X 4):

$263,324,000

 

Divided by 365:

$721,436 = Average daily revenue

 

Net Accounts Receivable:

$90,070,000

 

Divided by average daily revenue:

$721,436

 

Equals:

125 days (rounded)

 

The Company believes the use of DSO provides useful information to investors regarding the Company’s ability to convert its receivables into cash. DSO thus provides more detailed information regarding the Company’s financial results than the financial measures calculated and presented in accordance with GAAP.

As used herein, “GAAP” refers to accounting principles generally accepted in the United States.

 

2

 

 



SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: June 4, 2009

QUALITY SYSTEMS, INC.

 

 

By:    /s/ Paul Holt                                         
          Paul Holt
          Chief Financial Officer

 

 

3

 

 

 

-----END PRIVACY-ENHANCED MESSAGE-----