QuintilesIMS Reports First Combined Quarter; Positive Outlook and $88 FVE Unchanged
QuintilesIMS’ fourth-quarter sales largely tracked our expectations, with one-time tax and restructuring charges hitting the bottom line. The company anticipates reported revenue of $8-$8.1 billion for the upcoming year, which incorporates a negative foreign exchange impact and falls moderately below our original 2017 sales estimate. However, management’s expectations for adjusted earnings per share ($4.33-4.43 per share) implies greater operational efficiency than we initially gave the company ...
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