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

c net

income per share 50,198 50,638

Shares used to calculate diluted net

income per share 51,431 51,894

eResearchTechnology, Inc. and Subsidiaries

Consolidated Balance Sheets

(in thousands, except share and per share amounts)

December 31, 2007 March 31, 2008

ASSETS (unaudited)

Current assets:

Cash and cash equivalents $38,082 $40,568

Short-term investments 8,797 8,342

Accounts receivable, net 26,718 26,914

Prepaid income taxes 743 -

Prepaid expenses and other 3,087 3,197

Deferred income taxes 901 899

Total current assets 78,328 79,920

Property and equipment, net 33,347 30,826

Goodwill 30,908 31,737

Intangible assets 3,849 3,398

Deferred income taxes 1,011 1,375

Other assets 253 146

Total assets $147,696 $147,402

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Accounts payable $3,505 $2,869

Accrued expenses 12,103 7,710

Income taxes payable 2,352 1,675

Current portion of capital lease

obligations 1,097 394

Deferred revenues 13,905
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SOURCE eResearchTechnology, Inc.
Copyright©2008 PR Newswire.
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