IMS Health Reports 6.1% Second Quarter Revenue Rise

Pharma research giant IMS Health has reported a 6.1% increase in second quarter revenue to $662m. However, due to a number of one-off charges and expenses the firm suffered a Q2 net loss of $200m, compared with net income of $8m in the prior year period.

Adjusted EBITDA increased 9.2% to $226m. The net loss figure was driven by charges relating to the firm's IPO, and $27m of restructuring and related charges. Adjusted net income was up 39.8% to $134m, due to the $20m increase in Adjusted EBITDA and a $25m reduction in interest expense.

Chairman and CEO Ari Bousbib (pictured) says of the results: 'We delivered another strong quarter of revenue and Adjusted EBITDA growth through steady execution of our strategy. Our recent successful IPO and debt refinancing position us well to significantly increase earnings and cash flow and, at the same time, to continue investing for future growth, including the pending transaction with Cegedim.'

Revenue for the six months ended June 30th increased 5.7% to $1,307m, while Adjusted EBITDA increased 8.2% to $443m. First half net loss was $244m, compared with net income of $20m in H1 2013, but adjusted net income was up 18.5% to $204m.

Web site: www.imshealth.com .