Medidata Q2 Results Top Estimates - Quick Facts

(RTTNews) - Medidata (MDSO), a provider of cloud-based solutions for clinical research in life sciences, said second-quarter net income slipped to $1.5 million, or $0.03 per share, from $2.3 million, or $0.04 per share, in the second quarter of 2014.

Adjusted earnings were $12.1 million, or $0.22 per share, while it totaled $9.4 million, or $0.17 per share, in the second quarter of 2014. On average, 11 analysts polled by Thomson Reuters expected earnings of $0.20 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue increased 18 percent to $98.1 million from $83.2 million generated in the second quarter of 2014. Analysts expected revenues of $97.27 million.

Total operating costs and expenses climbed to $70.2 million from $55.11 million in the prior year.

For 2015, the company expects adjusted non-GAAP net income between $47.0 million and $50.5 million. Based on current estimates, this would equate to GAAP net income between $9.0 million and $11.0 million.

Revenues are estimated between $392.0 million and $412.0 million, representing between 17 and 23 percent year-over-year growth.

Analysts expect earnings of $0.24 per share on revenues of $103.43 million.