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Medidata beats Street 4Q forecasts

NEW YORK (AP) _ Medidata Solutions Inc. (MDSO) on Thursday reported fourth-quarter net income of $13.8 million.

The New York-based company said it had profit of 23 cents per share. Earnings, adjusted for one-time gains and costs, came to 41 cents per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.

The research software maker posted revenue of $141.2 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $140.8 million.

For the year, the company reported profit of $44.4 million, or 74 cents per share. Revenue was reported as $545.5 million.

Medidata expects full-year revenue in the range of $624 million to $648 million.

Medidata shares have climbed roughly 5 percent since the beginning of the year. The stock has increased 36 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MDSO at https://www.zacks.com/ap/MDSO