Quality Systems Cuts 2017 Non-GAAP EPS View

(RTTNews) - Quality Systems Inc. (QSII) reiterated its 2017 revenue outlook of a range of $512 million and $530 million; cut its non-GAAP EPS from a range of $0.66 to $0.74 to a range of $0.62 and $0.70 to account for incremental investments in the EagleDream Health platform.

Analysts polled by Thomson Reuters expect the company to report earnings of $0.70 per share and revenues of $523.05 million for 2017. Analysts' estimates typically exclude special items.

In other news, Jocelyn Leavitt, the Company's Executive Vice President, General Counsel and Secretary, informed the Board of Directors of the Company on July 31, 2017 that she will be resigning from her position. Leavitt is resigning to pursue other interests and will remain with the Company until her successor is appointed to ensure a smooth transition.

Separately, NextGen Healthcare Information Systems, LLC, a wholly owned subsidiary of Quality Systems, Inc. announced an agreement to acquire EagleDream Health Inc., a cloud-based analytics company that drives meaningful insight across clinical, financial and administrative data to optimize practice performance.

The transaction is expected to close in the current quarter upon the satisfaction of customary closing conditions and will be settled in all cash with a value of approximately $26 million.

Upon completion, this proposed acquisition of EagleDream Health will mark the second major asset acquired by NextGen Healthcare in 2017, following its earlier purchase of Entrada, Inc.