Healthcare data analytics provider IMS Health ended its first year as a public company with a significant loss, weighed down by interest costs and other non-operating expenses. But it's predicting a more positive fiscal 2015, helped by a pending acquisition.
IMS, which provides information services, analytics software and other products, ended its 2014 fiscal year with a $189 million net loss compared with $82 million in net income in fiscal 2013. Revenue was up 3.8% for the year at $2.6 billion, compared to $2.5 billion in revenue reported in fiscal 2013. Interest expenses for the year hit $221 million and other non-operating expenses totaled $276 million.
The Danbury, Conn.-based company recorded first-quarter earnings of $8 million, down 90% compared to net earnings of $82 million in he same period the prior year.
Guidance for 2015 includes an 11% to 12% increase in revenue and an 8% to 11% increase in adjusted net income. These forecasts include the pending acquisition of Cegedim's CRM and Strategic Data businesses, and assume that current foreign exchange rates hold constant through the end of the year.
IMS went public in April, offering 65 million shares at an initial price of $20 a share, raising roughly $1.3 billion.
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