DRNO - Daily Research News
News Article no. 19927
Published October 27 2014

 

 

 

Good Showing for IMS Health in Q3

Pharma research and data giant IMS Health has announced results for the quarter ended September 30th, with revenue up 5.4% (constant currencies) to $656m, driven by a strong performance in technology services (up 10.8%). Profits were also healthy - adjusted EBITDA increased 10.5% to $221m.

Ari BousbibOn a reported basis, the company's revenue rose 3.7% and EBITDA 6.1%. Revenue for its information products rose slower - 1.8% at constant currency basis, or flat on a reported basis. The firm said revenue (at constant currencies) grew across all regions - by 10.4% in emerging markets, and 4.3% in developed markets.

Three months ago IMS had reported a 6.1% increase in second quarter revenue to $662m, but also a net loss of $200m, due to a number of one-off charges and expenses.

Chairman and CEO Ari Bousbib (pictured) said it had been a good quarter for the IMS One intelligent cloud and Nexxus Commercial Application Suite, with important new contracts with life sciences clients. He commented: 'We delivered another strong quarter of revenue and Adjusted EBITDA growth, highlighted by continued double-digit increases in technology services and emerging markets on a constant currency basis.'

In the nine months top date, revenue is up 5.8% at constant currencies, to $1,963m, while adjusted EBITDA rose 9.8% on the same basis to a reported $664m. Due to one-time IPO-related charge IMS said its year-to-date net loss was $197m, compared with breakeven results in the prior-year period.

The company still has net debt of $3,568m, but has reduced this by $730m during the first 9 months of the year.

The company expects revenue growth of 5.5 to 5.7 percent at constant currencies; adjusted EBITDA growth of 9.0 to 9.8 percent, and Adjusted Net Income growth of 20 to 21 percent on the same basis.

Web site: www.imshealth.com .

 

 
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