CINCINNATI, April 20 /PRNewswire-FirstCall/ -- Kendle (Nasdaq: KNDL), a leading, global full-service clinical research organization, today announced that it will not meet analyst expectations for the first quarter of 2009. The shortfall is due to the impact of unprecedented biopharmaceutical industry conditions, which are resulting in longer delays in the signing of contracts on existing awards, fewer new requests for proposals and an increase in contract cancellations and delays. The Company now expects net service revenues for the first quarter of 2009 to be well below the market consensus of approximately $121 million.
The Company will host a conference call Tuesday, April 21, at 8:30 a.m. Eastern Time.
Conference Call and Webcast Details.
Conference Call Details: Dial in: 866-834-5752 (United States and Canada) 706-643-4051 (Outside North America) Replay: 706-645-9291 Conference ID Number 95120646
The call will be broadcast live over the Internet and can be accessed at www.kendle.com or http://www.videonewswire.com/event.asp?id=57853. The webcast will be archived at www.kendle.com (click on "Investors" shortly after the call. The conference call and archived webcast will remain available until 5 p.m. Eastern Time on May 21, 2009.
Kendle International Inc. (Nasdaq: KNDL) is a leading global clinical research organization providing the full range of early- to late-stage clinical development services for the world's biopharmaceutical industry. Our focus is on innovative solutions that reduce cycle times for our customers and accelerate the delivery of life-enhancing drugs to market for the benefit of patients worldwide. As one of the fastest-growing global providers of Phase I-IV services, we offer experience spanning more than 100 countries, along with industry-leading patient access and retention capabilities and broad therapeutic expertise, to meet our customers' clinical development challenges.
Additional information and investor kits are available upon request from Kendle, 441 Vine Street, Suite 500, Cincinnati, OH 45202 or from the Company's Web site at www.kendle.com.
Safe Harbor Statement
Certain statements and information contained in this press release may be deemed to be forward-looking statements under federal securities laws and the provisions of the Private Securities Litigation Reform Act of 1995 and Kendle intends that such forward-looking statements be subject to the safe-harbor created thereby. All such forward-looking statements, including the statements contained herein regarding anticipated trends in the Company's business, are based largely on management's expectations and are subject to and qualified by risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, but are not limited to, (a) competitive factors and industry consolidation, (b) outsourcing trends in the pharmaceutical and biotechnology industries, (c) the Company's ability to manage growth and continue to attract and retain qualified personnel (d) the Company's ability to complete additional acquisitions and to integrate newly acquired businesses, (e) the Company's ability to penetrate new markets, (f) the fixed price nature of contracts and cost overruns, (g) the loss, cancellation or delay of contracts or amendments thereto, (h) the Company's the ability to maintain existing customer relationships or enter into new ones, (i) the Company's sales cycle, (j) the Company's ability to obtain financing on terms acceptable to the Company, (k) the effects of exchange rate fluctuations, (l) the risks related to the Company's non-US operations and (m) other risks as detailed from time to time in Kendle's SEC reports, including its Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and Annual Reports on Form 10-K. In addition, no assurance can be given that the Company will be able to realize the net service revenues included in backlog and verbal awards. The Company believes that its aggregate backlog and verbal awards are not necessarily a meaningful indicator of future results. All information in this press release is current as of April 20, 2009. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.
|SOURCE Kendle International Inc.|
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