Q4 2007 Net Revenues - $28.9 million vs. $19.9 million in Q4 2006 - a 45%
Q4 2007 Diluted Net Income per Share - $0.10 vs. $0.04 in Q4 2006
Q4 2007 New Bookings Increase to $39.2 million
PHILADELPHIA, Feb. 26 /PRNewswire-FirstCall/ -- eResearchTechnology, Inc. (eRT), (Nasdaq: ERES), a leading provider of centralized ECG, eClinical technology, ePRO and other services to the pharmaceutical, biotechnology, medical device and related industries, announced today results for the fourth quarter of 2007 and the twelve-month period ended December 31, 2007.
On November 28, 2007, the Company acquired Covance Cardiac Safety
Services, Inc. (CCSS) and entered into a ten-year exclusive marketing
agreement with Covance, Inc. Because there is only one month of impact on
its results for 2007, the Company reported key statistics with and without
the CCSS acquisition. Unless otherwise noted, all growth numbers refer to
changes from the same period a year ago.
Highlights of the fourth quarter and the year were:
-- Record quarterly net revenue of $28.9 million for the fourth quarter of
2007 (including $1.5 million from the CCSS transaction) a 45.1%
increase from the prior year's quarter. Net revenues for the full year
2007 were $98.7 million.
-- Gross margin percentage increased to 52.6% which would have been higher
by 2.5% had we excluded the CCSS acquisition (or 55.1%); for the full
year 2007, the gross margin percentage was 50.7%.
-- Pre-tax margin percentage increased to 27.8% which would have been
higher by 3.3% had we excluded the CCSS acquisition (or 31.1%); for the
full year 2007
|SOURCE eResearchTechnology, Inc.|
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