Medidata Solutions Backs FY16 Outlook

(RTTNews) - Medidata Solutions Inc. (MDSO) said that its full year 2016 guidance provided on February 10, 2016 remains unchanged.

Adjusted non-GAAP net income, which primarily excludes the impact of stock-based compensation, non-cash interest expense associated with convertible senior notes, and amortization, tax-affected at a 40% rate, between $54.5 and $59.0 million. Based on current estimates, this would equate to GAAP net income between $16.5 and $21.0 million.

Revenues between $450.0 and $474.0 million, representing up to 21% year-over-year growth at constant currency. Non-GAAP operating income between $102.0 and $109.0 million. Based on current estimates, this would equate to GAAP operating income between $38.5 and $45.5 million.

Analysts polled by Thomson Reuters expect the company to report earnings of $1.01 per share and revenues of $460.40 million for fiscal year 2016. Analysts' estimates typically exclude special items.