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Cotiviti Holdings issues FY'18 guidance

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Cotiviti Holdings issues FY'18 guidance

Cotiviti Holdings Inc has issued guidance for 2018 and reported fourth-quarter 2017 results.

For full year 2018, the company expects total revenue in the range of $740 million to $775 million, and net income in the range of $105 million to $120 million. Adjusted EBITDA is projected to be between $295 million and $310 million.

The S&P Capital IQ consensus normalized EPS estimate for 2018 is $1.80.

For the fourth quarter of 2017, the company reported net income of $70.7 million, or 74 cents per share, up from $25.3 million, or 27 cents per share, in the year-ago quarter. Total revenue for the quarter increased to $176.7 million, compared to $167.9 million a year ago.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was 43 cents.

For full year 2017, Cotiviti reported net income of $138 million, up from $48.9 million in 2016. Total revenue for the full year 2017 increased to $678.7 million, compared to $625.2 million for the prior year.

The S&P Capital IQ consensus normalized EPS estimate for 2017 was $1.53.