Quintiles' revenue jumps 4.2% in Q1

Quintiles pulled in $927 million in revenue last quarter, a 4.2% jump over the same period last year the CRO attributes in part to 2012's many acquisitions.

The company tacked preliminary first-quarter results onto its pending S-1 filing, an incomplete document detailing Quintiles' plans to go public. Quintiles says it booked $1.2 billion in new business in Q1, compared to $1 billion last year, and the company has a $9 billion backlog, a jump over $8.7 billion in the same period in 2012.

Missing from the document is net income, and Quintiles says it's still finalizing its Q1 results, cautioning potential investors not to "place undue weight" on its preliminary results.

In any case, the Q1 figures jibe with what everyone already knows about the CRO: It has used M&A and strategic investment to chart blazing growth over the past few years, bringing in about $3.7 billion in revenue and $177.5 million in net income last year. Quintiles has partnered with all of the top-20 drugmakers and employs about 25,000 people across 60 countries.

What remains a mystery is just how many shares Quintiles will offer when it finally goes public. The CRO filed with the SEC back in February with a placeholder IPO value of $600 million but has since been mum on details, including when it will price shares and under what symbol it will trade.

- read Quintiles' amended filing

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