Quintiles Transnational Lifts 2016 Profit View

(RTTNews) - Quintiles Transnational Holdings Inc. (Q) increased its 2016 adjusted earnings per share guidance to $3.78 to $3.88 per share, representing growth of 13.5% to 16.5% compared to full year 2015, with diluted GAAP EPS guidance of $3.26 to $3.41 per share, representing growth of 5.7% to 10.6% compared to full year 2015. The company expects an annual effective income tax rate of approximately 29.0%.

The company adjusted its full year 2016 constant currency service revenue growth guidance to a range of between 6.0% and 7.0% compared to full year 2015, reaffirming its full year 2016 Product Development constant currency service revenue growth guidance of approximately 10%, and updating its full year 2016 Integrated Healthcare Services constant currency service revenue guidance to a 3.0% to 6.0% decline compared to full year 2015.

Analysts polled by Thomson Reuters expect the company to report earnings of $3.78 per share and revenues of $4.63 billion for fiscal year 2016. Analysts' estimates typically exclude special items.