InVentiv Health Narrows Profit Range For 2009

SOMERSET, N.J. (AP) — InVentiv Health Inc., which provides services for the pharmaceutical and life sciences industries, narrowed its profit forecast for the year, but still expects a profit in range of analyst estimates.

The company projected a profit of $1.30 to $1.40 per share, from a previous range of $1.25 to $1.50 per share. It backed its revenue goal of $1.1 billion to $1.2 billion.

Analysts expect earnings of $1.35 per share and $1.14 billion for inVentiv, says Thomson Reuters.

InVentiv also forecast a profit below analyst expectations in the second quarter. It called for net income of 32 cents to 34 cents per share, while analysts are looking for 35 cents per share.

The company reported a larger-than-expected profit in the first quarter, although its revenue fell short of analyst forecasts.