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Kendle Reports Record 3Q 08 Net Income and Total Business Authorizations
Date:11/4/2008

Kendle International Inc.

Condensed Consolidated Statements of Income

(In thousands, except per share data)

(Unaudited)

Three Months Ended Nine Months Ended

September 30 September 30

2008 2007 2008 2007

Net service revenues $124,828 $100,070 $365,941 $293,311

Reimbursable out-of-pocket

revenues 56,254 42,366 151,346 120,864

Total revenues 181,082 142,436 517,287 414,175

Costs and expenses:

Direct costs 64,070 49,119 186,763 150,062

Reimbursable out-of-pocket costs 56,254 42,366 151,346 120,864

Selling, general and

administrative expenses 40,649 32,830 122,009 94,571

Depreciation and amortization 4,240 3,876 11,245 11,065

Total costs and expenses 165,213 128,191 471,363 376,562

Income from operations 15,869 14,245 45,924 37,613

Other income (expense):

Interest expense (2,237) (3,316) (7,432) (11,988)

Interest income 94 341 483 1,108

Write-off of deferred financing

costs - (4,152) - (4,152)

Other 3,364 (2,076) (815) (4,388)

Total other income (expense) 1,221 (9,203) (7,764) (19,420)

Income before income taxes 17,090 5,042 38,160 18,193

Income taxes 6,114 1,256 13,725 5,872

Net income $10,976 $3,786 $24,435 $12,321

Income per share
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SOURCE Kendle International Inc.
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