Author
Jae Jun
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Nothing on Old School Value, related pages, emails, or other communications by the author, either written or oral, are intended to be arecommendation to either buy, hold, or sell any specific security or group of securities. Likewise, nothing herein should be construed as anendorsement of any financial adviser, investment manager, commercial information provider, transaction service, or brokerage firm.The findings from this spreadsheet is merely a start to a means of further research and uncovering a great business and investment. OldSchool Value holds no responsibility for any investment whatsoever.
3/18/2009
QSII
1999200020012002200320042005200620072008
TTM
Revenue33.8$ 36.4$ 39.9$ 44.4$ 54.8$ 70.9$ 89.0$ 119.3$ 157.2$ 186.5$ 230.9$
COGS15.8$ 16.4$ 17.3$ 19.3$ 23.8$ 28.7$ 32.7$ 39.8$ 50.8$ 62.5$ 80.6$
COGS (%)46.7%45.1%43.4%43.5%43.4%40.5%36.7%33.4%32.3%33.5%34.9%
Gross Profit18.0$ 20.0$ 22.7$ 25.2$ 31.0$ 42.3$ 56.3$ 79.5$ 106.4$ 124.0$ 150.3$
Gross Profit (%)53.3%54.9%56.9%56.8%56.6%59.7%63.3%66.6%67.7%66.5%65.1%
SG&A13.5$ 12.7$ 13.6$ 13.1$ 15.3$ 19.5$ 24.8$ 35.6$ 45.3$ 53.3$ 66.3$
SG&A (%)39.9%34.9%34.1%29.5%27.9%27.5%27.9%29.8%28.8%28.6%28.7%R&D3.6$ 3.7$ 4.1$ 4.2$ 5.1$ 6.1$ 6.9$ 8.1$ 10.2$ 11.4$ 13.1$
R&D (%)10.7%10.2%10.3%9.5%9.3%8.6%7.8%6.8%6.5%6.1%5.7%Other-$ -$ -NaNNaNNaNNaN-NaNNaN-NaNNaN-NaNOther (%)0.0%0.0%#VALUE!#VALUE!#VALUE!#VALUE!#VALUE!#VALUE!#VALUE!#VALUE!#VALUE!
Operating Income0.9$ 3.6$ 5.0$ 7.9$ 10.7$ 16.6$ 24.6$ 35.8$ 50.9$ 59.4$ 71.0$
Operating Income (%)2.7%9.9%12.5%17.8%19.5%23.4%27.6%30.0%32.4%31.8%30.7%
Net Int Inc & Other0.4$ 0.8$ 1.0$ 0.6$ 0.4$ 0.4$ 0.9$ 2.1$ 3.3$ 3.6$ 1.6$
Earnings Before Taxes1.3$ 4.4$ 6.0$ 8.5$ 11.1$ 17.0$ 25.5$ 37.9$ 54.2$ 63.0$ 72.6$
Income Taxes0.7$ 1.9$ 2.5$ 3.2$ 4.1$ 6.6$ 9.4$ 14.6$ 21.0$ 22.9$ 26.6$
Earnings After Taxes0.6$ 2.5$ 3.5$ 5.3$ 7.0$ 10.4$ 16.1$ 23.3$ 33.2$ 40.1$ 46.0$
Acctg Changes-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$
Disc Operations-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$
Ext Items-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$
Net Income0.6$ 2.5$ 3.5$ 5.3$ 7.0$ 10.4$ 16.1$ 23.3$ 33.2$ 40.1$ 46.0$
Net Income (%)1.8%6.9%8.8%11.9%12.8%14.7%18.1%19.5%21.1%21.5%19.9%
Diluted EPS, Cont Ops$0.0$ 0.1$ 0.1$ 0.2$ 0.3$ 0.4$ 0.6$ 0.9$ 1.2$ 1.4$ 1.6$
Diluted EPS$0.0$ 0.1$ 0.1$ 0.2$ 0.3$ 0.4$ 0.6$ 0.9$ 1.2$ 1.4$ 1.6$
Shares2525242425252627272728.37Cash and Equiv14.2$ 15.9$ 18.5$ 25.4$ 36.4$ 51.4$ 51.2$ 57.2$ 60.0$ 59.1$ 55.4$
Short-Term Investments0.3$ 0.2$ 0.3$ 0.3$ -$ -$ -$ -$ -$ 2.5$ 2.5$
Accts Rec12.5$ 13.7$ 13.3$ 13.7$ 17.6$ 20.3$ 33.4$ 45.9$ 64.0$ 76.6$ 100.8$
Inventory0.8$ 1.0$ 1.0$ 1.1$ 0.7$ 0.7$ 1.0$ 0.6$ 1.2$ 1.0$ 1.3$
Other Current Assets1.0$ 2.5$ 2.1$ 2.4$ 4.1$ 4.4$ 3.5$ 4.7$ 7.9$ 11.0$ 11.6$
Total Current Assets28.7$ 33.4$ 35.2$ 42.9$ 58.8$ 76.9$ 89.0$ 108.4$ 133.1$ 150.2$ 171.5$
Net PP&E1.8$ 1.8$ 1.8$ 1.6$ 1.8$ 2.0$ 2.7$ 3.7$ 5.0$ 4.8$ 6.4$
Intangibles2.1$ 4.1$ 3.5$ 3.9$ 4.4$ 5.5$ 6.2$ 7.0$ 8.8$ 10.7$ 47.0$
Other Long-Term Assets7.6$ 4.9$ 4.3$ 3.7$ 2.7$ 2.4$ 1.6$ 3.1$ 3.7$ 22.3$ 10.3$
Total Assets40.2$ 44.1$ 44.9$ 52.1$ 67.6$ 86.7$ 99.4$ 122.3$ 150.7$ 187.9$ 235.2$
Accts Payable1.8$ 1.3$ 1.8$ 2.7$ 2.5$ 1.7$ 2.3$ 2.9$ 5.3$ 4.7$ 4.5$
Short-Term Debt-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$
Taxes Payable-$ -$ -$ -$ -$ -$ -$ -$ 0.3$ 1.5$ -$
Accrued Liabilities-$ -$ -$ -$ -$ 3.0$ 3.4$ 5.5$ 6.5$ 8.4$ 9.3$
Other Short-TermLiabilities8.7$ 10.8$ 9.2$ 9.4$ 17.6$ 21.0$ 28.1$ 38.2$ 44.4$ 55.6$ 65.6$
Total Current Liabilities10.6$ 12.1$ 11.0$ 12.1$ 20.1$ 25.7$ 33.9$ 46.7$ 56.5$ 70.2$ 79.4$
Long-Term Debt-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$
Other Long-TermLiabilities-$ -$ -$ -$ -$ -$ 2.9$ 3.2$ 3.0$ 4.0$ 5.1$
Total Liabilities10.6$ 12.1$ 11.0$ 12.1$ 20.1$ 25.7$ 36.7$ 49.8$ 59.4$ 74.2$ 84.5$
Total Equity29.7$ 32.1$ 33.9$ 40.1$ 47.5$ 61.0$ 62.7$ 72.4$ 91.3$ 113.7$ 150.7$
Total Liabilities & Equity40.2$ 44.1$ 44.9$ 52.1$ 67.6$ 86.7$ 99.4$ 122.3$ 150.7$ 187.9$ 235.2$
Liabilities & Stockholders' Equity
QUALITY SYSTEMS INC
Company Name
Income Statement
Operating ExpensesOther Income and Expense
Balance Sheet
ticker
QSII
Assets
all figures in $Mil
Financial Data
et ncome0.62.53.55.37.010.416.123.333.240.146.0
Depr & Amort2.5$ 2.2$ 2.7$ 2.1$ 2.2$ 2.3$ 3.0$ 3.8$ 5.2$ 6.5$ 8.3$
Deferred Taxes(0.6)$ (1.1)$ 0.6$ 0.4$ 0.3$ (0.2)$ 2.6$ (1.5)$ (1.6)$ (0.2)$ 1.0$
Other0.9$ -$ (0.7)$ 0.5$ 3.7$ 4.8$ -$ 5.0$ (7.2)$ (2.8)$ (16.7)$
Cash from Operations3.4$ 3.6$ 6.1$ 8.2$ 13.2$ 17.3$ 21.6$ 30.7$ 29.6$ 43.6$ 38.7$
Cap Ex(0.5)$ (0.6)$ (0.8)$ (0.6)$ (1.1)$ (1.1)$ (1.7)$ (2.4)$ (3.2)$ (2.1)$ (2.5)$
Purchase of Business-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$
Other(4.5)$ (1.2)$ (1.1)$ (1.5)$ (1.4)$ (2.6)$ (2.7)$ (3.3)$ (5.0)$ (28.1)$ 6.7$
Cash from Investing(5.1)$ (1.8)$ (1.9)$ (2.0)$ (2.5)$ (3.7)$ (4.4)$ (5.7)$ (8.3)$ (30.2)$ 4.1$
Net Issuance of Stock(0.2)$ (0.1)$ (1.7)$ 0.8$ 0.4$ 1.3$ 2.2$ 4.5$ 6.1$ -$ -$
Net Issuance of Debt-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$
Dividends-$ -$ -$ -$ -$ -$ (19.6)$ (23.4)$ (27.1)$ (20.5)$ (29.1)$
Other-$ -$ -$ -$ -$ -$ -$ -$ 2.5$ 6.1$ 11.7$
Cash from Financing(0.2)$ (0.1)$ (1.7)$ 0.8$ 0.4$ 1.3$ (17.5)$ (18.9)$ (18.5)$ (14.4)$ (17.4)$
Currency Adj-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$
Change in Cash(1.9)$ 1.7$ 2.6$ 7.0$ 11.0$ 15.0$ (0.2)$ 6.1$ 2.8$ (1.0)$ 25.4$
Cash from Operations3.4$ 3.6$ 6.1$ 8.2$ 13.2$ 17.3$ 21.6$ 30.7$ 29.6$ 43.6$ 38.7$
Cap Ex(0.5)$ (0.6)$ (0.8)$ (0.6)$ (1.1)$ (1.1)$ (1.7)$ (2.4)$ (3.2)$ (2.1)$ (2.5)$
Free Cash Flow2.6$ 1.9$ 5.2$ 6.7$ 8.1$ 11.6$ 17.3$ 24.8$ 17.6$ 38.5$ 20.5$
Book Value Per Share1.19$ 1.28$ 1.41$ 1.67$ 1.90$ 2.44$ 2.41$ 2.68$ 3.38$ 4.21$ 5.31$
Free Cash FlowCash Flows StatementCash Flows From Operating ActivitiesCash Flows From Investing ActivitiesCash Flows From Financing Activities
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Quality Systems Inc QSII stock analysis
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