Fourth Quarter Revenue Highest in Company History; Full Year Revenue Up 13%
Non-GAAP Net Income to Common Stockholders Grows 40% Over Prior Year
Company Provides FY09 Outlook for 13 to 18% Annual Revenue Growth
MOUNTAIN VIEW, Calif., May 8 /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 fiscal fourth quarter and full year 2008, ended March 31, 2008. Revenue for the fiscal fourth quarter was $7.6 million, a new quarterly high for the company, and a 5% increase compared with revenue of $7.3 million in the fourth quarter of fiscal 2007. Revenue for the full fiscal year was $28.3 million, up 13% from $25.1 million for 2007.
"We finished fiscal 2008 and enter fiscal 2009 very confident about our ability to generate double digit growth at both the top and bottom line," said Shawn O'Connor, chairman and chief executive officer of Pharsight. "Our team is doing an excellent job of developing both our software and our consulting businesses. On the software side, we grew revenue for the fiscal year by 14%. We continued to execute our software product development plan and during the quarter added our 22nd PKS(TM) customer. In addition, we doubled the number of WinNonlin(R) AutoPilot(TM) customers to six during the quarter. The market's acceptance of WinNonlin AutoPilot illustrates the strategic benefit of our ongoing development efforts to increase the operational efficiency of PK/PD data management."
"Additionally, revenue from our consulting services business, which
includes the Strategic Consulting Services (SCS) and Reporting and Analysis
Services (RAS) units,
|SOURCE Pharsight Corporation|
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