Business
Medpace Holdings, Inc. Reports Second Quarter 2020 Results
Revenue of $205.0 million in the second quarter of 2020 decreased 4.3% from revenue of $214.1 million for the comparable prior-year period, representing a
About this update from Medpace Holdings, Inc.
[{"type":"text","content":"\n\nRevenue of $205.0 million in the second quarter of 2020 decreased 4.3% from revenue of $214.1 million for the comparable prior-year period, representing a backlog conversion rate of 15.8%. \n\n\nNet new business awards were $254.1 million in the second quarter of 2020, representing a decrease of 9.0% from net new business awards of $279.2 million for the comparable prior-year period, which resulted in a net book-to-bill ratio of 1.24x.\n\n\nSecond quarter of 2020 GAAP net income was $24.1 million, or $0.64 per diluted share, versus GAAP net income of $27.5 million, or $0.73 per diluted share, for the comparable prior-year period. Net income margin was 11.8% and 12.8% for the second quarter of 2020 and 2019, respectively.\n\n\nEBITDA was $35.0 million for the second quarter of 2020, a decrease of 12.9% from EBITDA of $40.2 million for the comparable prior-year period, resulting in an EBITDA margin of 17.1%.\n\n\n CINCINNATI--(BUSINESS WIRE)--\nMedpace Holdings, Inc. (Nasdaq: MEDP) (“Medpace”) today announced financial results for the second quarter ended June 30, 2020.\n\n\nSecond Quarter 2020 Financial Results\n\n\nRevenue for the three months ended June 30, 2020 decreased 4.3% to $205.0 million, compared to $214.1 million for the comparable prior-year period. On a constant currency organic basis, revenue for the second quarter of 2020 decreased 4.1% compared to the second quarter of 2019.\n\n\nBacklog as of June 30, 2020 grew 14.6% to $1.3 billion from $1.2 billion as of June 30, 2019. Net new business awards were $254.1 million, representing a net book-to-bill ratio of 1.24x for the second quarter of 2020, as compared to $279.2 million for the comparable prior-year period. The Company calculates the net book-to-bill ratio by dividing net new business awards by revenue.\n\n\nFor the second quarter of 2020, total direct costs were $148.4 million, compared to total direct costs of $150.3 million in the second quarter of 2019. Selling, general and administrative (SG&A) expenses were $21.9 million in the second quarter of 2020, compared to SG&A expenses of $23.6 million in the second quarter of 2019.\n\n\nGAAP net income for the second quarter of 2020 was $24.1 million, or $0.64 per diluted share, versus GAAP net income of $27.5 million, or $0.73 per diluted share, for the second quarter of 2019. This resulted in a net income m...