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Medidata Solutions reaffirms 2016 outlook

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Medidata Solutions reaffirms 2016 outlook

Medidata SolutionsInc. has maintained its financial outlook for 2016 of $450.0 million to $474.0 million in revenueat constant currency.

The company also continues to expect GAAP operating income ofbetween $38.5 million and $45.5 million and non-GAAP operating income, which excludesthe impact of depreciation, amortization of intangible assets and stock-based compensationexpense, of $102.0 million to $109.0 million.

Medidata continues to expect GAAP net income of between $16.5million and $21.0 million and adjusted non-GAAP net income, which excludes the impactof stock-based compensation, non-cash interest expense associated with convertiblesenior notes and amortization, tax-affected at a 40% rate, of between $54.5 millionand $59.0 million.

For the second quarter, the company reported GAAP net incomeof $4.9 million, or 9 cents per share, compared with $1.5 million, or 3 cents pershare, in the second quarter of 2015. Adjusted non-GAAP net income for the quarterwas $13.5 million, or 24 cents per share, compared with $12.1 million, or 22 centsper share, in the prior-year quarter.

The S&P Capital IQ consensus normalized EPS estimate forthe quarter was 23 cents.