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Cotiviti Holdings updates FY'17 outlook

Cotiviti Holdings Inc has updated its guidance for the full year 2017 and has reported second-quarter results.

The company now expects net income for the full year to be between $97 million and $103 million, compared with the previous guidance of $89 million to $95 million. However, the company still expects total revenue to be between $688 million and $700 million and adjusted EBITDA to range from $266 million to $272 million.

The S&P Capital IQ consensus normalized EPS estimate for 2017 is $1.52.

Cotiviti Holdings has also reported its second-quarter net income of $21.1 million, or 22 cents per share, up from $10.9 million, or 13 cents per share, a year ago. Non-GAAP adjusted net income was $36.0 million, or 38 cents per share, versus $31.1 million, or 37 cents per share, in the prior-year quarter.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was 34 cents.