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Medpace: 3Q Earnings Snapshot

CINCINNATI (AP) _ Medpace Holdings Inc. (MEDP) on Monday reported third-quarter net income of $24 million.

On a per-share basis, the Cincinnati-based company said it had profit of 63 cents. Earnings, adjusted for amortization costs, were 71 cents per share.

The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 71 cents per share.

The provider of outsourced clinical development services posted revenue of $216.2 million in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $216.8 million.

Medpace expects full-year earnings in the range of $2.85 to $2.97 per share, with revenue in the range of $840 million to $860 million.

Medpace shares have climbed 45% since the beginning of the year. In the final minutes of trading on Monday, shares hit $77.01, a climb of 61% in the last 12 months.


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