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Pharsight Achieves $7.4 Million in Quarterly Revenue
Date:1/24/2008

Revenue Up 16% for First 9 Months Compared with Fiscal 2007 Net Income To Common Stockholders Grows 77% During The Fiscal Third Quarter

MOUNTAIN VIEW, Calif., Jan. 24 /PRNewswire-FirstCall/ -- Pharsight Corporation (Nasdaq: PHST), a leading provider of software and strategic services designed to optimize clinical drug development, today announced financial results for its third quarter of fiscal 2008, ended December 31, 2007. Revenue for the third quarter was $7.4 million, a 20% increase compared with revenue of $6.1 million in the third quarter of fiscal 2007.

"The fiscal third quarter of 2008 was a productive period for Pharsight during which we achieved tangible operational milestones that resulted in a record level of quarterly revenue and the successful re-listing of the Company's common stock on the Nasdaq Capital Market," said Shawn O'Connor, chairman and chief executive officer. "In our software business unit, we grew revenue by 24% compared with the fiscal third quarter of 2007 and added our 21st PKS(TM) and our third WinNonlin(R) AutoPilot(TM) customers. In addition, we surpassed the 100 customer milestone with our IVIVC Toolkit(TM) for WinNonlin that we released a year ago. Each of these achievements illustrates our continued progress in growing our relationships with our customers while expanding the overall addressable market for our products.

Within our consulting services business, which includes the Strategic Consulting Services (SCS) and Reporting and Analysis Services (RAS) units, we grew quarterly revenue by 17% year-over-year and were engaged for a total of 26 new agreements during the quarter," said Mr. O'Connor. "We continue to reap the benefits of our investment in our RAS business and our s
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SOURCE Pharsight Corporation
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