No Major Surprises in PRA Health's Fourth Quarter, but Bookings Growth Seems To Be Decelerating
PRA Health reported fourth-quarter revenue of about $730 million, slightly below our expectations and up 4.2% from last year, excluding the impact from new accounting standards, foreign exchange rates, and reimbursed revenue. Operating expenses were in line with our expectations, and slightly lower-than-expected tax expense and transaction-related costs led to fourth-quarter net income above our expectations at $71 million. On an adjusted basis, operating margin improved nicely by 100 basis poin...PRA Health Sciences is a contract research organization engaged in providing outsourced clinical development and data solution services to the biotechnology and pharmaceutical industries. The company has two reportable segments: Clinical Research, which performs a range of services across the spectrum of clinical development programs, from the filing of investigational new drug applications and similar regulatory applications to conducting all phases of clinical trials; and Data Solutions, which provides data, analytics, technology, and consulting solutions to the life sciences market including market intelligence services, consulting and services, and apps and technology.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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