PRA Health Sciences, which went public in November, reported an 8 percent increase in fourth-quarter revenue that slightly surpassed Wall Street's estimates.
The Raleigh-based pharmaceutical services company reported Wednesday that revenue totaled $323.8 million. Analysts polled by Thomson Reuters had projected revenue of $323 million.
Revenue rose 10 percent after accounting for currency fluctuations, a reflection of the strong dollar.
PRA reported a loss of $22.8 million, or 45 cents per share, which the company said was driven by costs stemming from its initial public offering and paying down its debt. A year earlier it had posted a loss of $9.4 million, or 24 cents per share. Adjusted net income rose 35 percent to 35 cents per share.
"We have delivered strong revenue growth and bottom line results in line with our expectations, as well as continued strength in net new business awards," CEO Colin Shannon said in a prepared statement.
PRA reported $388.4 million in net new business awards in the quarter.
PRA released its fourth-quarter results, the first financial results it has issued since going public, Wednesday evening after the markets closed. The company has scheduled a conference call to discuss its performance for Thursday.
For the full year, PRA generated revenue of $1.27 billion in 2014 and a loss of $35.7 million, or 83 cents per share. Year-ago figures weren't directly comparable.
Earlier Wednesday, PRA's shares closed at $27.84, up 37 cents. Its shares have risen 55 percent since the company went public in November.
PRA is a contract research organization that helps pharmaceutical and biotechnology companies test experimental drugs and analyze the results. The company has 10,300 employees worldwide, including more than 450 locally.
Looking ahead to 2015, PRA projected its revenue would be between $1.35 billion and $1.4 billion, or between 7 percent and 10 percent. It's projecting that its net income per share will be between 60 cents and 65 cents.