Medidata Solutions, Inc.'s (MDSO) fourth-quarter net income surged to $5.45 million or $0.10 per share, from $0.58 million or $0.01 per share in the year-ago period.
The latest quarter's results include a pre-tax charge of $0.9 million for costs associated with the previously announced international wire transfer fraud committed against the company.
Adjusted net income for the quarter was $13.74 million or $0.25 per share, compared to $12.53 million or $0.23 per share in the year-ago period. On average, 12 analysts polled by Thomson Reuters expected the company to earn $0.22 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew 20 percent to $89.21 million from $74.58 million in the year-ago period. Analysts had a consensus revenue estimate of $91.12 million.
For fiscal 2015, Medidata forecast adjusted net income between $47.0 and $50.5 million. Based on current estimates, this would equate to reported net income between $11.5 and $13.0 million. The company also forecast revenues between $392.0 and $412.0 million, representing between 17 percent and 23 percent year-over-year growth.
Street expects the company to earn $0.93 per share for the year on revenues of $408.96 million.
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