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PRA Health Sciences: 1Q Earnings Snapshot

RALEIGH, N.C. (AP) _ PRA Health Sciences Inc. (PRAH) on Wednesday reported first-quarter net income of $44.1 million.

The Raleigh, North Carolina-based company said it had profit of 66 cents per share. Earnings, adjusted for amortization costs and stock option expense, came to $1.10 per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.

The contract research organization posted revenue of $722 million in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $733 million.

PRA Health Sciences expects full-year earnings in the range of $4.93 to $5.08 per share, with revenue in the range of $3.09 billion to $3.2 billion.

PRA Health Sciences shares have climbed almost 4% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $95.24, a rise of 17% 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 PRAH at https://www.zacks.com/ap/PRAH