Medidata Solutions, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter the company reported total revenues of $149,198,000 compared to $127,644,000 a year ago. Gross profit was $112,896,000 compared to $97,030,000 a year ago. Operating income was $13,326,000 compared to $12,879,000 a year ago. Income before income taxes was $9,743,000 compared to $9,723,000 a year ago. Net income was $10,325,000 or $0.17 per diluted share compared to $9,980,000 or $0.17 per share a year ago. Non-GAAP operating income was $34,222,000 compared to $27,676,000 a year ago. Non-GAAP net income was $23,979,000 or $0.40 per diluted share compared to $18,654,000 or $0.32 per diluted share a year ago. Net cash provided by operating activities were $4,976,000 compared to $22,485,000 a year ago. Purchase of furniture, fixtures and equipment was $11,147,000 compared to $6,790,000 a year ago.

For the full year 2018, the company's guidance provided on February 8, 2018 is unchanged. For 2018, the company expects GAAP operating income in the range of $63.5 million – $73.5 million, Non-GAAP operating income in the range of $157 million – $167 million, GAAP net income in the range of $42.0 million – $50.0 million, Non-GAAP net income in the range of $98.5 million – $106.5 million. Revenue and EBITDAO outlook for 2018 remain unchanged from the guidance provided in February. As a result of this first quarter benefit, the company now expected a full year GAAP effective tax rate of 15%.