RALEIGH, N.C. (AP) _ PRA Health Sciences Inc. (PRAH) on Wednesday reported second-quarter profit of $42 million.
The Raleigh, North Carolina-based company said it had net income of 64 cents per share. Earnings, adjusted for amortization costs and stock option expense, came to $1 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 95 cents per share.
The contract research organization posted revenue of $722.8 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $710.4 million.
PRA Health Sciences expects full-year earnings in the range of $4.13 to $4.23 per share, with revenue in the range of $2.87 billion to $2.92 billion.
PRA Health Sciences shares have risen 15 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $104.82, a rise of 41 percent in the last 12 months.