QuintilesIMS Reports Third-Quarter 2016 Results, Combined Company Guidance and Additional Merger Details

Nov 02, 2016

DANBURY, Conn. & RESEARCH TRIANGLE PARK, N.C., November 2, 2016 -- Quintiles IMS Holdings, Inc. (NYSE:Q) today reported financial results for the quarter ended September 30, 2016 for Quintiles Transnational Holdings, Inc. on a standalone basis, the last quarter prior to its merger with IMS Health Holdings, Inc. on October 3, 2016, with QuintilesIMS continuing as the surviving corporation. While the separate corporate existence of IMS Health ceased following the merger, as did its reporting obligations with the Securities and Exchange Commission, today the company also provides financial results for IMS Health on a standalone basis for the quarter ended September 30, 2016.

Quintiles Third-Quarter 2016 Results

  • Service revenue up 3.9 percent reported, 3.6 percent constant currency; Product Development revenue up 7.9 percent, 8.6 percent constant currency
  • Diluted GAAP Earnings Per Share: $0.82 reported, down 7.9 percent; Diluted Adjusted Earnings per Share: $1.00, up 6.4 percent
  • Product Development net new business now reported on an as-contracted LTM basis: $4.4 billion during the last 12 months
  • Backlog now reported on an as-contracted basis: $9.4 billion as of September 30, 2016 of which approximately $2.7 billion expected to convert to revenue over the next 12 months

IMS Health Third-Quarter 2016 Results

  • Revenue up 7.5 percent reported, 6.8 percent constant currency
  • Adjusted EBITDA up 9.0 percent reported, 5.0 percent constant currency
  • GAAP Net Income: $54 million; Adjusted Net Income: $132 million, up 2.2 percent reported and up 4.7 percent constant currency
  • GAAP Diluted Earnings per Share: $0.16; Adjusted Diluted Earnings per Share: $0.39, up 2.5 percent and up 4.9 percent constant currency

QuintilesIMS Combined Company Guidance

  • Fourth-quarter 2016 revenue guidance of $1,950 to $1,990 million, Adjusted EBITDA of $500 to $515 million, and Adjusted Diluted EPS of $1.04 to $1.08 per share
  • Cost synergies doubled from previous guidance of $100 million annualized savings exiting 2019 to $200 million
  • $1.5 billion share repurchase authorization expected to be completed by end of 2017

For complete QuintilesIMS Third-Quarter 2016 Results, download this PDF document

Contact Investor Relations:

Tom Kinsley, 1-203-448-4691


Todd Kasper, 1-919-998-2590


Contact Media Relations:

Tor Constantino, 1-484-567-6732


Phil Bridges, 1-919-998-1653

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