Net service revenues for the nine-month period ended Sept. 30, 2008, were $365.9 million, an increase of 25 percent over net service revenues of $293.3 million for the same period in 2007. Net service revenues from DecisionLine Clinical Research Corporation accounted for approximately 3 percent of the growth in net service revenues.
Income from operations for the nine-month period ended Sept. 30, 2008, was $45.9 million, or 12.5 percent of net service revenues, compared to income from operations of $37.6 million, or 12.8 percent of net service revenues for the same period of the prior year.
Cash flow from operations for the first nine months of 2008 totaled $3.4 million compared with $38.1 million for the same period last year. Capital expenditures for the first nine months of 2008 totaled $18.1 million compared to $10.8 million for the same period in the prior year.
Updated Full-Year Guidance
For the full year 2008, Kendle is now projecting net service revenues in the range of $485 million to $500 million, earnings per share on a diluted basis of $2.10 to $2.25 and operating margin between 12.5 and 13.5 percent. Kendle previously had projected net service revenues in the range of $490 million to $500 million, earnings per share on a diluted basis of $2.00 to $2.15 and operating margin between 13 and 14 percent.
Third Quarter 2008 Conference Call and Webcast Details
Kendle will host its Third Quarter 2008 conference call Nov. 5, 2008,
at 8:30 a.m.
|SOURCE Kendle International Inc.|
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