Cotiviti Holdings, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, total revenue increased 6% to $167.6 million, compared to $158.3 million in the second quarter a year ago. Revenue growth was driven by a 7% increase in the Healthcare segment to $151.6 million, with the Global Retail and other segment contributing $16.1 million, down 7% compared to the same period a year ago. Net income increased 94% to $21.1 million, or $0.22 per diluted share compared to $10.9 million in the prior year quarter, or $0.13 per diluted share. Second quarter 2017 net income was favorably impacted by year-over-year revenue growth, a 42% decline in interest expense, a 55% decline in loss on extinguishment of debt from a year ago, and a lower effective tax rate as the result of a $2.6 million tax benefit from stock option exercises. Non-GAAP Adjusted EBITDA was $64.2 million, a 2% increase compared to $63.0 million for the prior year quarter. Non-GAAP Adjusted net income was $36.0 million, or $0.38 per diluted share, compared to $31.1 million, or $0.37 per diluted share for the prior year quarter. Operating income was $39,996,000 against $38,938,000 a year ago. Income before income taxes was $28,831,000 against $17,569,000 a year ago.

For the six months, total revenue increased 9% to $327.7 million compared to $301.0 million for the same period a year ago. Net income increased 153% to $48.1 million, or $0.51 per diluted share compared to $19.0 million or $0.24 per diluted share in the comparable period a year ago. Non-GAAP Adjusted EBITDA was $121.9 million, compared to $113.6 million in the comparable period a year ago. Non-GAAP Adjusted net income was $68.0 million, or $0.71 per diluted share, compared to $53.4 million, or $0.66 per diluted share in the comparable period a year ago. Operating income was $74,078,000 against $68,176,000 a year ago. Income before income taxes was $54,945,000 against $31,046,000 a year ago. Net cash provided by operating activities was $42,300,000 against $72,574,000 a year ago. Expenditures for property and equipment were $16,593,000 against $14,019,000 a year ago.

For the full year 2017, the company expects total revenue in a range of $688 million to $700 million; net income in a range of $97 million to $103 million; Adjusted EBITDA in a range of $266 million to $272 million; and Fully diluted weighted average shares of approximately 96 million.