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eResearchTechnology Reports Second Quarter 2008 Results
Date:8/4/2008

Q2 2008 Net Revenues - a record $35.5 million vs. $24.7 million in Q2 2007

- an increase of 43.4% Q2 2008 Diluted Net Income per Share - $0.13 vs. $0.08 in Q2 2007 - an

increase of 62.5%

Q2 2008 Operating Income margin of 30.3% vs. 25.3% in Q2 2007

Q2 2008 New Bookings of $49.0 million vs. $34.5 million in Q2 2007

PHILADELPHIA, Aug. 4 /PRNewswire-FirstCall/ -- eResearchTechnology, Inc. (eRT), (Nasdaq: ERES), a leading provider of centralized ECG and eClinical technology, ePRO and other services to the pharmaceutical, biotechnology, medical device and related industries, announced today results for the second quarter and six-month period ended June 30, 2008.

Financial highlights for the second quarter of 2008 were:

-- Record quarterly net revenues of $35.5 million, a 43.4% increase from the second quarter of 2007;

-- Diluted net income per share of $0.13, a 62.5% increase from the second quarter of 2007;

-- Gross margin of $20.2 million for a gross margin percentage of 57.0%, a 310 basis point increase from the second quarter of 2007. The gross margin included the impact of the operating results of CCSS and the integration of CCSS into eRT. CCSS generated net revenues of $3.0 million while incurring costs of revenue of $2.4 million;

-- Operating income of $10.8 million, a 72.2% increase from the second quarter of 2007. Operating income margin percentage was 30.3%, a 500 basis point increase from the second quarter of 2007. Operating income included a loss of $0.3 million from the operations of CCSS and the integration of CCSS into eRT;

-- New bookings of $49.0 million compared to $34.5 million for the second quarter
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SOURCE eResearchTechnology, Inc.
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