Quintiles Q4 Profit Climbs, Tops Estimates; Sees Higher Results In FY16

(RTTNews) - Quintiles Transnational Holdings Inc. (Q), a biopharmaceutical services company, reported Thursday that its fourth-quarter net income attributable to the company increased to $104.57 million or $0.85 per share from last year's $88.43 million or $0.69 per share last year.

Adjusted net income was $111.4 million or $0.90 per share, compared to $91.85 million or $0.71 per share last year.

On average, 19 analysts polled by Thomson Reuters expected earnings of $0.87 per share. Analysts' estimates typically exclude special items.

The Company's service revenues were $1.13 billion, a growth of 6.1% from last year's $1.06 billion. Analysts were looking for revenues of $1.13 billion.

Growth in service revenues, excluding the impact of foreign currency fluctuations, was 9.4% with 12.1% growth in the Product Development segment and 2.2% growth in the Integrated Healthcare Services segment.

The company said it believes to be well-positioned for the long-term with $12.04 billion of backlog.

Looking ahead, for fiscal 2016, the company expects reported earnings per share between $3.52 and $3.70, and adjusted earnings per share of $3.70 to $3.85, representing growth of 11.1% to 15.6% from the prior year. Service revenue is expected to grow 7% to 8.5% at constant currency.

For the year 2016, analysts expect earnings of $3.70 per share on revenues of $4.67 billion.