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eResearchTechnology Reports Fourth Quarter and Full Year 2007 Results

7) (4,192)

Prepaid expenses and other 132 352

Accounts payable 950 (2,147)

Accrued expenses (1,779) 2,806

Income taxes (2,104) 3,137

Deferred revenues (4,897) 2,487

Net cash provided by operating

activities 16,332 36,001

Investing activities:

Purchases of property and equipment (15,181) (11,073)

Purchases of investments (46,425) (58,008)

Proceeds from sales of investments 40,658 91,555

Payments for acquisition - (35,800)

Net cash used in investing activities (20,948) (13,326)

Financing activities:

Repayment of capital lease obligations (153) (2,504)

Proceeds from exercise of stock options 3,851 1,655

Stock option income tax benefit 3,400 760

Repurchase of common stock for treasury (5,803) -

Net cash provided by (used in) financing

activities 1,295 (89)

Effect of exchange rate changes on cash 386 (1)

Net (decrease) increase in cash and cash

equivalents (2,935) 22,585

Cash and cash equivalents, beginning of period 18,432 15,497

Cash and cash equivalents, end of period $15,497 $38,082

SOURCE eResearchTechnology, Inc.
Copyright©2008 PR Newswire.
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