Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Medidata Solutions, a provider of SaaS clinical development solutions that enhance the efficiency of customers' clinical trials, has reported total revenues of $40.76m for the first quarter ended 31 March 2011, compared to $37.64m for the same period in 2010.
Subscribe to our email newsletter
The company has reported a net income of $3.19m, or $0.13 loss per diluted share, compared to net income of $1.86m or $0.08 per diluted share, for the same period last year.
Medidata Solutions’ operating income was $3.47m, as compared to $2.94m for the same period prior year.
Gross profit was $27.67m, as compared to $25.07m for the same period in 2010.
Medidata Solutions chief financial officer and executive vice president Bruce Dalziel said they have established a steady and consistent track record of gross margin expansion, high renewal rates and overall profitable growth.
"As reflected in our first quarter results, 2011 is expected to be a good year in terms of profitability and operating cash flow growth," Dalziel said.