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Medidata (MDSO) Surges on Raising Sales Outlook

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Shares of Medidata Solutions, Inc. (NASDAQ:MDSOMedidata Solutions Inc) are surging over 15% in morning trade after the company raised its first quarter and full year profit outlook. For the first quarter, the company sees revenue between $48.5 million and $49.5 million, above analysts’ estimates of $47.9 million.

For the full year Medidata (MDSO) now expects revenue to grow in the mid to high teens. This works out to $210 million to $215 million, compared with the low to mid teens forecast last quarter. This is also higher than analyst estimates.

Medidata (MDSO) reported net revenues for the fourth quarter of 2011 came in at $47.2 million, compared with $47.4 million in the fourth quarter of 2010. Adjusted net income for the fourth quarter of 2011 decreased to $9.0 million, or $0.37 per diluted share, compared with $15.5 million, or $0.64 per diluted share, in the fourth quarter of 2010.


“Medidata’s record financial and operational performance reflects growing customer reliance on our integrated clinical development solutions,” said Tarek Sherif, chief executive officer. “We are at an inflection point in our growth, driven by market share gains and sales of our non-Rave products. The projected acceleration of our revenue is well supported by the significant backlog with which we enter 2012, as well as a rich pipeline of opportunities. Enabling our customers to cost-effectively transform their clinical research processes through our cloud-based platform creates significant, measurable value for our customers and will continue to drive our future growth.”

Sherif added, “While 2011 was a transitional year for Medidata (MDSO), we are beginning this year with tremendous momentum based on our financial performance, excellent customer retention, feature-rich solution and a solid reputation for innovation and customer service. In 2012, we will continue to invest aggressively in our business, to capitalize on the massive opportunity we see resulting from our customers’ evolving clinical development technology needs.”

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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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