Medidata Issues 2016 Revenue Guidance - Quick Facts

(RTTNews) - Medidata (MDSO) announced, for the full year 2016, the company now expects: revenues between $450.0 and $474.0 million, representing up to 21% year-over-year growth at constant currency. Professional services revenues are expected to be approximately $60.0 million.

For 2016, Medidata expects Non-GAAP operating income between $102.0 and $109.0 million. This would equate to GAAP operating income between $38.5 and $45.5 million. Adjusted non-GAAP net income is expected to be between $54.5 and $59.0 million. This would equate to GAAP net income between $16.5 and $21.0 million.

Total revenue for the fourth quarter was $98.9 million, an increase of 11%, compared with $89.2 million in the fourth quarter of 2014. Subscription revenue was $84.6 million, an increase of 12% compared with the same period last year.

GAAP operating income for the quarter was $9.7 million, up 7% compared with $9.1 million in the fourth quarter of 2014. Non-GAAP operating income increased to $23.6 million, up 7% compared with $22.1 million a year ago.