The second quarter 2018 results for NextGen Healthcare, Inc. , have been released on the Investor Relations site.
NextGen Healthcare, Inc. is a leader in the implementation of patient led health care by leveraging the world’s largest integrated healthcare platform, the Global Health Information Exchange (GHIE), to provide enhanced health information and communication technology in a safe, secure and affordable manner. The company provides patient-centered, innovative solutions helping institutions lower costs and increase their quality of care.
The Company is based in San Francisco, CA.
Net revenues for the period were $25. 5 million compared to net revenues of $27.
Net income for the period were $2. 0 million compared to net income of $1.
EBITDA for the period were $3. 7 million compared to EBITDA of $4.
Gross profit for the period were $15. 0 million compared to gross profit of $6.
Net loss for full year 2018 were $0. 8 million compared to net loss of $2. 9 million for the full year 2017.
The report provides a detailed overview of the Company’s fiscal Q2 2018 first quarter results.
For the quarter ended July 31, 2018, the Company reported gross profit of $15. 0 million and net loss of $0. 8 million, or a net loss of $2. 9 million for the full year 2018. These financial results are lower than management’s prior expectations and as a result, a net loss of $0. 8 million is recorded as the difference between the gross profit of $15. 0 million and the net loss of $2. 9 million for the full year 2017.
Management estimates the current year EPS per diluted share range is between $0.
Fiscal 2022 Revenue Guidance Raises
The Fiscal 2022 Tax Revenue Guidance published by Office of the Comptroller of the Currency. Fiscal 2022 Revenue Guidance Raises. Fiscal 2022 (Fiscal 2022) – Summary. The fiscal 2022 tax revenue guidance published by The Office of the Comptroller of the Currency on November 18, 2018, is a major step forward in the process of delivering the agency’s Fiscal 2022 budget.
The fiscal 2022 revenue guidance includes significant changes to the organization and mission of OCC’s tax collection activities. The agency will move from being a revenue collection agency to an revenue-gaining agency.
OCC’s revenue collection activities will be greatly reduced by the use of the new structure of the agency. The agency will shift its revenue collection efforts from a primary focus on the collection of sales taxes to a focus on the collection of non-tax revenue in order to increase non-tax revenue collection capabilities.
Tax Collection: The Fiscal 2022 Tax Revenue Guidance clarifies that OCC will shift from a primary focus on the collection of sales taxes to a focus on the collection of non-tax revenue by consolidating revenue enforcement efforts and concentrating resource on the collection of “non-tax revenues”.
The main focus of revenue collection efforts will shift from collection of sales taxes to non-tax revenue collection. This will reduce the need to collect state, local and gross receipts taxes and will result in increased non-tax revenue collection.
This means that OCC will continue to collect taxes, but will no longer be collecting sales or gross receipts taxes.
Additionally, the Fiscal 2022 tax revenue guidance directs OCC to increase the agency’s use of electronic compliance and records management processes to enable the agency’s personnel to more effectively collect documents and other information about taxpayers.
Revenue Gains from Non-tax Revenue – The Fiscal 2022 Tax Revenue Guidance directs the agency to further reduce revenues from the non-tax revenue it generates in order to further reduce the agency’s current fiscal 2022 budget. This includes the agency’s current non-tax revenue budget for Fiscal 2021 and Fiscal 2022.
The fiscal 2022 tax revenue guidance will reduce OCC’s total annual revenue from the two fiscal years, currently $1. 75 billion and $1.
Forward-Looking Factors and Uncertainties in the Company’s results.
The Company’s results are generally viewed as good and it is considered that the business conditions of the future are good. Consequently, the company expects to achieve profitability of 10% in the current financial year, and the company does not expect an abnormal increase in operational expenses for the current financial year. At the same time, the company also expects a moderate deterioration in operating income for the next financial year.
In its financial statement, the company provided for income from operations attributable to sales and income from financing activities of 14. 1% of sales and 13. 4% of financing activity, respectively. To be in line with generally accepted accounting principles, the company considered a deduction from the income from operations of 0. 9% for depreciation and amortisation of the company’s investment in the construction and maintenance of the company’s production plant, the payment of employee wages, wages and social insurance expenses, and social security contributions. The company also declared a corresponding reduction in income to shareholders.
The company expects to pay and to record an income tax credit of 9. 3% of the net income for the period between September and March 2014. The company does not plan to record the income tax credit in the first quarter of 2014.
The company does not expect to record or have on its balance sheet any adjustments in equity as a result of the above mentioned negative factors.
Pursuant to the provisions of Article 6 and Article 13 of the law ‘On Accounting for Income from Business of Companies’ adopted in force since 17 September 2010, the company has reported on its financial statements (in particular, the consolidated statements of profit) adjusted for the impact of the net income from operations, the income tax credit and the deductions referred to above. The adjusted financial statements have no additional impact.
During the period from 9 April 2013 to 31 March 2018, the Company’s operations were financed by the sale of the company’s shares, debentures and securities.
The business activities of the company include the manufacture and processing of computer hardware, the distribution and sale of computers, other electronic products and software and the maintenance of computers. In order to perform its activity, the Company uses computers and related components, which are supplied by its subsidiaries.
The activities of the Company are described in the consolidated financial statements.
Matthew Scalo
Matthew Scalo | Computer Hardware.
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Spread the loveThe second quarter 2018 results for NextGen Healthcare, Inc. , have been released on the Investor Relations site. NextGen Healthcare, Inc. is a leader in the implementation of patient led health care by leveraging the world’s largest integrated healthcare platform, the Global Health Information Exchange (GHIE), to provide enhanced health information and communication…
