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

iabilities 1,174 1,162

Total liabilities 34,184 29,210

Stockholders' equity:

Preferred stock-$10.00 par value,

500,000 shares authorized,

none issued and outstanding - -

Common stock-$.01 par value,

175,000,000 shares authorized,

58,870,291 and 59,081,686 shares

issued, respectively 589 591

Additional paid-in capital 87,957 91,217

Accumulated other comprehensive income 1,679 1,695

Retained earnings 85,477 97,883

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

Total stockholders' equity 113,512 129,196

Total liabilities and stockholders'

equity $147,696 $158,406

eResearchTechnology, Inc. and Subsidiaries

Consolidated Statements of Cash Flows

(in thousands)

(unaudited)

Six Months Ended June 30,

2007 2008

Operating activities:

Net income $6,387 $12,406

Adjustments to reconcile net income to net cash

provided by operating activities:

Depreciation and amortization 7,139 8,574

Cost of sales of equipment 535 492

Provision for uncollectible accounts - 60

Share-based compensation 1,142 1,366

Deferred income taxes 294 (3
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SOURCE eResearchTechnology, Inc.
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