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PRA Health Sciences: 3Q Earnings Snapshot

RALEIGH, N.C. (AP) _ PRA Health Sciences Inc. (PRAH) on Wednesday reported third-quarter profit of $83 million.

On a per-share basis, the Raleigh, North Carolina-based company said it had net income of $1.25. Earnings, adjusted for one-time gains and costs, came to $1.32 per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.

The contract research organization posted revenue of $780.7 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $772.9 million.

PRA Health Sciences expects full-year earnings in the range of $5.07 to $5.12 per share, with revenue in the range of $3.02 billion to $3.1 billion.

PRA Health Sciences shares have increased 7.5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $98.86, an increase of 4.5% 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