INC Research sees Q4 adjusted EPS 52c-60c, consensus 72c
Sees Q4 net service revenue $738M-$768M, adjusted net service revenue of $750M-$780M, consensus $809M. The company said: "In connection with the Merger, we re-evaluated our existing backlog policy for our Clinical Solutions Segment. As a result of this evaluation, effective during the third quarter of 2017, we changed our policy for calculating and reporting the amounts of our net new business awards and backlog. Under our new policy our Combined Company Clinical Solutions backlog was adjusted from $4.8B to $3.72B as of September 30, 2017. Prior to the adoption of our new policy, our Combined Company Clinical Solutions net new business awards for the three and nine months ended September 30, 2017 were $755M and $2.13B, respectively, resulting in a book-to-bill of 1.4x and 1.3x, respectively. Under our new policy, we adjusted Combined Company Clinical Solutions net new business awards for the three and nine months ended September 30, 2017 to $683.2M and $1.88B, respectively, representing a book-to-bill ratio of 1.3x and 1.2x, respectively."