Quintiles Q1 Profit Surges; Raises FY Outlook - Quick Facts

(RTTNews) - Quintiles Transnational Holdings Inc. (Q) Thursday reported first-quarter earnings of $90 million or $0.68 per share compared with $48 million or $ 0.41 per share in the same period last year.

On an adjusted basis, net earnings amounted to $90.9 million or $0.68 per share. On average, 18 analysts polled by Thomson Reuters expected earnings per share of $0.55 for the quarter. Analysts' estimates typically exclude one-time items.

The company posted first-quarter revenues of $1.30 billion versus $1.22 billion last year.Analysts estimated revenues of $1.02 billion for the quarter.

In addition, the firm revised its full-year outlook and now expects earnings per share between $2.38 and $2.52.On an adjusted basis, the firm now estimates earnings per share in the range of $2.45 - $2.58 versus the previous range of $2.33 to $2.46 per share.

Currently, Q projects annual service revenues between $4.13 billion and $4.19 billion compared with the previous guidance of $4.09 billion and $4.15 billion. For the full-year 2014, Analysts expect the company to report profit per share of $2.42 per share, on revenue of $4.20 billion.