Good Showing for IMS Health in Q3

Pharma research and data giant IMS Health has announced results for the quarter ended September 30th, with revenue up 5.4% (constant currencies) to $656m, driven by a strong performance in technology services (up 10.8%). Profits were also healthy - adjusted EBITDA increased 10.5% to $221m.

On a reported basis, the company's revenue rose 3.7% and EBITDA 6.1%. Revenue for its information products rose slower - 1.8% at constant currency basis, or flat on a reported basis. The firm said revenue (at constant currencies) grew across all regions - by 10.4% in emerging markets, and 4.3% in developed markets.

Three months ago IMS had reported a 6.1% increase in second quarter revenue to $662m, but also a net loss of $200m, due to a number of one-off charges and expenses.

Chairman and CEO Ari Bousbib (pictured) said it had been a good quarter for the IMS One intelligent cloud and Nexxus Commercial Application Suite, with important new contracts with life sciences clients. He commented: 'We delivered another strong quarter of revenue and Adjusted EBITDA growth, highlighted by continued double-digit increases in technology services and emerging markets on a constant currency basis.'

In the nine months top date, revenue is up 5.8% at constant currencies, to $1,963m, while adjusted EBITDA rose 9.8% on the same basis to a reported $664m. Due to one-time IPO-related charge IMS said its year-to-date net loss was $197m, compared with breakeven results in the prior-year period.

The company still has net debt of $3,568m, but has reduced this by $730m during the first 9 months of the year.

The company expects revenue growth of 5.5 to 5.7 percent at constant currencies; adjusted EBITDA growth of 9.0 to 9.8 percent, and Adjusted Net Income growth of 20 to 21 percent on the same basis.

Web site: www.imshealth.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

• IMS Health Inc
• All news