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IMS Health Full Year Results
IMS HEALTH has announced full-year 2001 diluted earnings per share of $0.90 from recurring operations, a 6% increase over 2000 results. Net income from recurring operations grew 7% year over year, to $270.6 million.
For the fourth quarter alone, the company reported diluted earnings of $0.22 per share, 15% below the year-earlier period, and net income of $66.8 million from recurring operations, down 14% year over year.
The group's full-year 2001 revenues rose to $1,332.9 million, up 11% in constant dollar and 6% on a reported basis. This compares with revenues of $1,254.0 million in 2000. Operating income for 2001 grew 14% in constant dollar, or 6% on a reported basis, to $427.6 million. Net income rose 7% in 2001 to $270.6 million, or $0.90 per share, compared with $253.6 million, or $0.85 per share, in 2000.
'Our fourth-quarter performance is consistent with previously announced guidance, reflecting our decision not to complete an anticipated transaction in the quarter, the lower revenue growth rate of Cognizant Technology Solutions and a modest slowdown in year-end projects due to a weakened economic climate,' according to David Thomas, IMS HEALTH chairman and chief executive officer. 'I am confident that the strategic initiatives we have in place will position us for renewed growth in 2002. We have announced total IMS HEALTH guidance of constant-dollar revenue growth of 9-to-11 percent in 2002, and earnings-per-share growth in the 15-to-20 percent range.'
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