Medidata Solutions, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Provides Earnings Guidance for the Full Year of 2018
For the nine months, the company reported total revenue of $468,509,000 compared to $402,616,000 a year ago. Operating income was $40,282,000 compared to $47,797,000 a year ago. Income before income taxes was $39,648,000 compared to $38,703,000 a year ago. Net income was $37,602,000 compared to $30,564,000 a year ago. Earnings per share diluted were $0.62 compared to $0.51 a year ago. Net cash provided by operating activities was $57,247,000 compared to $91,574,000 a year ago. Purchase of furniture, fixtures and equipment was $28,929,000 compared to $30,502,000 a year ago. Non-GAAP operating income was $112,197,000 compared with $95,127,000 for the same period a year ago. Adjusted non-GAAP net income was $76,581,000 compared with $57,112,000 for the same period a year ago. Adjusted Non-GAAP diluted earnings per share were $1.26 compared with $0.96 for the same period a year ago.
For the full-year 2018, the company is maintaining its previously stated total revenue and profitability guidance ranges, as follows: total revenue between $624.0 million and $648.0 million. GAAP operating income between $45.5 million and $53.5 million. Non-GAAP operating income between $146.0 million and $154.0 million. GAAP net income between $90.5 million and $97.5 million. CapEx expected to be of $40 million.