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eResearchTechnology Reports Fourth Quarter and Full Year 2007 Results
Date:2/26/2008

p> Preferred stock-$10.00 par value, 500,000

shares authorized, none issued and outstanding - -

Common stock-$.01 par value, 175,000,000 shares

authorized, 58,356,546 and 58,870,291 shares

issued, respectively 584 589

Additional paid-in capital 83,493 87,957

Accumulated other comprehensive income 1,510 1,679

Retained earnings 70,225 85,477

Treasury stock, 8,247,119 shares at cost (62,190) (62,190)

Total stockholders' equity 93,622 113,512

Total liabilities and stockholders'

equity $115,064 $147,696

eResearchTechnology, Inc. and Subsidiaries

Consolidated Statements of Cash Flows

(in thousands)

Year Ended December 31,

2006 2007

(unaudited)

Operating activities:

Net income $8,310 $15,252

Adjustments to reconcile net income to net

cash provided by operating activities:

Depreciation and amortization 11,253 15,129

Cost of sales of equipment 3,722 1,143

Provision for uncollectible accounts 111 30

Share-based compensation 2,975 2,004

Investment impairment charge 226 -

Changes in operating assets and liabilities

exclusive of CCSS acquisition:

Accounts receivable (2,56
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SOURCE eResearchTechnology, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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