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eResearchTechnology Reports First Quarter 2008 Results

eResearchTechnology, Inc. and Subsidiaries

Consolidated Statements of Operations

(in thousands, except per share amounts)

Three Months Ended March 31,

2007 2008

(unaudited) (unaudited)

Net revenues:

Licenses $782 $625

Services 13,968 25,273

Site support 6,334 7,775

Total net revenues 21,084 33,673

Costs of revenues:

Cost of licenses 66 200

Cost of services 6,790 10,514

Cost of site support 4,195 5,268

Total costs of revenues 11,051 15,982

Gross margin 10,033 17,691

Operating expenses:

Selling and marketing 2,538 3,323

General and administrative 3,469 4,873

Research and development 925 999

Total operating expenses 6,932 9,195

Operating income 3,101 8,496

Other income, net 550 427

Income before income taxes 3,651 8,923

Income tax provision 1,403 3,177

Net income $2,248 $5,746

Basic net income per share $0.04 $0.11

Diluted net income per share $0.04 $0.11

Shares used to calculate basi

SOURCE eResearchTechnology, Inc.
Copyright©2008 PR Newswire.
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