Medidata Solutions (MDSO) Reports In-Line Q3 EPS, Maintains FY15 Guidance

Medidata Solutions (NASDAQ: MDSO) reported Q3 EPS of $0.24, in-line with the analyst estimate of $0.24. Revenue for the quarter came in at $103.1 million versus the consensus estimate of $103.49 million.

Financial Outlook

For the full-year 2015, the company is maintaining its previously stated total revenue and profitability guidance ranges, which expects the following:

• Revenues between $392.0 and $412.0 million, representing between 17% and 23% year-over-year growth.
• Professional services revenues are expected to be between $56.0 and $57.0 million, compared with prior expectations of between $58.0 and $60.0 million.
• Non-GAAP operating income between $90.0 and $96.0 million. Based on current estimates, this would equate to GAAP operating income between $28.0 and $31.0 million.
• Adjusted non-GAAP net income, which includes the tax affected adjustments primarily from stock-based compensation, non-cash interest expense associated with convertible senior notes and amortization at a 40% effective tax rate, between $47.0 and $50.5 million. Based on current estimates, this would equate to GAAP net income between $9.0 and $11.0 million.
• While changes in the stock price could change the fully diluted share count, the company is assuming 56.4 million fully-diluted shares.

Based on its year-to-date performance and visibility for the remainder of the year, the company is providing additional insight into its expectations.

• The company anticipates total revenue and profitability for 2015 to be between the midpoint and the low end of its outlook. This is primarily due to lower than expected professional services revenue and extended, client-driven contracting timelines of certain enterprise deals in its pipeline for 2015.

For earnings history and earnings-related data on Medidata Solutions (MDSO) click here.

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