Catamaran Q1 Results Top View, Lifts Full Year Earnings Forecast - Quick Facts

(RTTNews) - Catamaran Corp. (CCT.TO, CTRX), a provider of pharmacy benefit management services and technology, said first-quarter net income attributable to the company increased to $63.45 million or $0.31 per share from $51.41 million or $0.25 per share in the previous year.

Adjusted earnings per share were $0.50, while it totaled $0.42 last year. On average, 25 analysts polled by Thomson Reuters expected earnings of $0.44 per share. Analysts estimates typically exclude special items.

Revenue increased 53 percent to $4.914 billion from $3.22 billion in the prior year. Analysts expected revenues of $4.68 billion.

Further, the company updated its financial guidance for 2014. Adjusted earnings per share are expected to be in the range of $2.10 to $2.22 and reported earnings per share in the range of $1.38 to $1.50.

Revenues are expected in the range of $20 billion to $21 billion.

Wall Street expects earnings per share of $2.15 and revenues of $20.46 billion.

In February, the company expected full year GAAP earnings per share of $1.35 - $1.50, adjusted earnings per share of $2.04 - $2.19, excluding all amortization of intangible assets, on revenues of $20 billion - $21 billion.