Medpace: 2Q Earnings Snapshot
CINCINNATI (AP) _ Medpace Holdings Inc. (MEDP) on Monday reported second-quarter profit of $16.6 million.
On a per-share basis, the Cincinnati-based company said it had net income of 45 cents. Earnings, adjusted for one-time gains and costs, came to 61 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.
The provider of outsourced clinical development services posted revenue of $170.1 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $153.2 million.
Medpace expects full-year earnings in the range of $2.51 to $2.62 per share.
Medpace shares have climbed 30 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $47.07, an increase of 71 percent in the last 12 months.