Medidata Solutions Backs 2017 Outlook

(RTTNews) - Medidata Solutions Inc. (MDSO), a provider of cloud-based technology and data analytics for clinical research, reaffirmed guidance for full-year 2017. It still expects GAAP net income for 2017 to be between $31 and $36 million. Adjusted non-GAAP net income, which excludes the impact of stock-based compensation, non-cash interest expense associated with convertible senior notes, and amortization, tax-effected at a 40% rate, between $69 million and $74 million.

Total revenue for 2017 is expected to be between $538 million and $562 million, representing up to 21% year-over-year growth at constant currency.

For 2017, the company projects GAAP operating income between $61 and $69 million. Non-GAAP operating income, which excludes the impact of depreciation, amortization of intangible assets, and stock-based compensation expense, between $131 and $139 million; professional services revenues of approximately $75 million.