Medical information software maker Quality Systems (NASDAQ:QSII) may sound boring, but its results are anything but. The company reported earnings yesterday for Q4 and the full year of fiscal 2006, and it was an impressive finish to the year.

After Quality Systems missed estimates last quarter, analysts kept a lid on expectations this time, looking for just $0.23 of earnings per diluted share and $33.2 million of gross revenue. The company blew right past those numbers and landed $0.28 of EPS -- up 59% year over year -- and $35.6 million of sales, a 40% annual improvement.

As you can see, earnings grew faster than sales, pointing to expanding margins and a more efficient business in general. In particular, cost of revenues only increased by 25%, much slower than the sales growth. That, my friends, is a Good Thing.

Of course, there's still the ongoing problem we have with a less-than independent board of directors that in the past has seemed eager to pay themselves more than is reasonable. There is a new amendment and restatement of the compensation program that we need to digest, however; we'll have more commentary on that in the future.

Still, the business is well-run, and this Motley Fool Stock Advisor recommendation is up over 600% since Tom Gardner's initial recommendation in March 2003.

Quality Systems is showing that smart management can wring impressive profits out of boring businesses like health care information systems ... and last quarter's bump in the road may have been just a simple pothole.

Related links:

Sign up for a free 30-day trial to see how the Gardner brothers found these opportunities.

Fool contributor Anders Bylund doesn't own any of the stocks mentioned, and he prefers homebrewed coffee over Starbucks. Foolish disclosure is always high quality.