IMS Health Takes 3Q Loss On Restructuring Charges

NORWALK, Conn. (AP) — Health care data company IMS Health Inc., which is reportedly considering selling itself to private equity firms, said Thursday it took a loss in the third quarter due to a $106.3 million restructuring charge.

The company is in the process of cutting jobs and shifting its focus to businesses with faster growth, including services and specialty pharmacy. Reports on Monday said IMS is taking offers for a potential sale, and the company said Tuesday it is looking at strategic options without being more specific.

It did not offer further details Thursday, and said in a conference call that it does not expect to make further comments about the possible sale while it mulls its options.

In the third quarter, IMS said it lost $9.3 million, or 5 cents per share, compared with a profit of $75.9 million, or 41 cents per share one year ago. Excluding the restructuring costs it posted a profit of 40 cents per share.

Thomson Reuters says analysts expected 36 cents per share.

Revenue slid 6 percent, to $540.8 million from $573.7 million. The company said information and analytics revenue fell 5 percent to $425.2 million, and consulting and services revenue fell 10 percent to $115.6 million. Analysts expected a lower total of $522.1 million.

In morning trading, IMS shares rose 13 cents to $17.68.