MORRISVILLE – Syneos Health Inc. (SYNH) on Thursday reported fourth-quarter profit of $76 million, and its CEO cited “strong fundamentals” for a report that beats on earnings despite a slight miss on revenue forecasts.

“Strong fundamentals and execution across our business, combined with innovative, integrated clinical and commercial capabilities enabled by data and technology, drove robust earnings and cash flow growth in the fourth quarter and full year 2021,” said CEO Alistair Macdonald in a statement.

“The market for our services remains strong, driven in part by customer adoption of our unique product development strategy, new drug approvals and biotech funding. In 2022, we expect robust growth propelled by recent acquisitions, uptake for our Syneos One and Medical Affairs offerings, and continued execution of our Value Creation Plan,” he added.

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The Morrisville-based company said it had net income of 72 cents per share. Earnings, adjusted for amortization costs and non-recurring costs, were $1.48 per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.43 per share.

The clinical research company posted revenue of $1.37 billion in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $1.4 billion.

For the year, the company reported profit of $234.8 million, or $2.24 per share. Revenue was reported as $5.21 billion.

Syneos Health expects full-year earnings in the range of $4.98 to $5.24 per share, with revenue in the range of $5.6 billion to $5.75 billion.

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