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eResearchTechnology Reports First Quarter 2008 Results
Date:5/5/2008

Q1 2008 Net Revenues - $33.7 million vs. $21.1 million in Q1 2007 - an

increase of 59.7%; a record for eRT Q1 2008 Diluted Net Income per Share - $0.11 vs $0.04 in Q1 2007 - an

increase of 175.0%

Q1 2008 New Bookings increase to $50.1 million; a record for eRT

Increasing 2008 Guidance

PHILADELPHIA, May 5/PRNewswire-FirstCall/ -- eResearchTechnology, Inc. (eRT), (Nasdaq: ERES), a leading provider of centralized ECG and eClinical technology, ePRO and other services to the pharmaceutical, biotechnology, medical device and related industries, announced today results for the quarter ended March 31, 2008.

Highlights for the first quarter of 2008 were:

-- Record quarterly net revenues of $33.7 million, including $3.3 million

of net revenues from Covance Cardiac Safety Services, Inc. (CCSS), a

59.7% increase from the first quarter of 2007;

-- Diluted net income per share of $0.11, up 175.0% from the first quarter

of 2007;

-- Gross margin of $17.7 million for a gross margin percentage of 52.5% up

4.9 percentage points from the first quarter of 2007. The gross margin

percentage was negatively impacted by CCSS, which generated net

revenues of $3.3 million while incurring expenses of $3.2 million;

-- Income before income taxes margin percentage of 26.5%, up 9.2

percentage points from the first quarter of 2007. The income before

income taxes margin percentage was negatively impacted by CCSS and the

integration of CCSS into eRT, which combined generated a loss before

income taxes of $1.4 million;

-- Record bookings of $50
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SOURCE eResearchTechnology, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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