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ERT Reports Fourth Quarter and Full Year 2008 Results
Date:2/26/2009

Q4 2008 Net Revenues - $30.1 million vs. $28.9 million in Q4 2007 - a 4.0% increase

Q4 2008 Diluted Net Income per Share - $0.11 vs. $0.10 in Q4 2007 - a 10.0% increase

Q4 2008 New Bookings of $45.1 million vs. $39.2 million in Q4 2007 - a 15.1% increase

2008 Net Revenues -- $133.1 million vs. $98.7 million in 2007 - a 34.9% increase

2008 Diluted Net Income per Share of $0.48 vs. $0.29 in 2007 - a 65.5% increase

2008 New Bookings of $187.2 million vs. $138.6 million in 2007 - a 35.1% increase.

PHILADELPHIA, Feb. 26 /PRNewswire-FirstCall/ -- eResearchTechnology, Inc. (ERT) (Nasdaq: ERES), a leading provider of centralized ECG, eClinical technology, ePRO and other services to the pharmaceutical, biotechnology, medical device, and related industries, announced today results for the fourth quarter of 2008 and the twelve-month period ended December 31, 2008. Unless otherwise noted, all growth numbers refer to changes from the same period a year ago.

Highlights of the fourth quarter and the year were:

  • Net revenues were $30.1 million for the fourth quarter of 2008, a 4.0% increase from the fourth quarter of 2007. Net revenues for the full year 2008 were a record $133.1 million, up 34.9% from 2007.
  • Covance Cardiac Safety Services (CCSS) revenues, all of which related to acquired backlog, were $1.9 million in the fourth quarter of 2008 compared to $1.5 million in the prior year's quarter and were $10.1 million for the full year 2008 compared to $1.5 million in the prior year.
  • Gross margin percentage in the fourth quarter increased to 57.3% from 52.6% in the prior year's quarter. The gross margin percentage for the full year was 55.8%, up from 50.7% in 2007.
  • Operating income margin percenta
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SOURCE eResearchTechnology, Inc.
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