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ERT Reports First Quarter 2009 Results
Date:4/30/2009

- - Common stock-$.01 par value, 175,000,000 shares authorized, 59,950,257 and 59,974,108 shares issued, respectively 600 600 Additional paid-in capital 93,828 94,826 Accumulated other comprehensive income (2,716) (2,948) Retained earnings 110,479 112,549 Treasury stock, 8,686,868 and 10,652,320 shares at cost, respectively (64,763) (74,755) Total stockholders' equity 137,428 130,272 Total liabilities and stockholders' equity $169,122 $158,267


                     eResearchTechnology, Inc. and Subsidiaries
                        Consolidated Statements of Cash Flows
                                   (in thousands)
                                     (unaudited)

                                                Three Months Ended March 31,
                                                    2008              2009

    Operating activities:
      Net income                                  $5,746            $2,070
      Adjustments to reconcile net income
       to net cash provided by operating
       activities:
        Depreciation and amortization              4,344             3,404
        Cost of sales of equipment                   414                 7
        Provision for uncollectible accounts          30               105
        Share-based compensation                     470               901
        Deferred income taxes                       (362)              111
        Changes in operating assets and
         liabilities:
          Accounts receivable                       (222)             7,331
          Prepaid expenses and other                 (11)             
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SOURCE eResearchTechnology, Inc.
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