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eResearchTechnology Reports Third Quarter 2008 Results
Date:10/30/2008

tire 2007 year. We were able to increase our third quarter operating income margin to 31.1% from 30.3% in the second quarter of 2008. Net income for the third quarter was $6.9 million, an increase of 87.0% from $3.7 million for the third quarter of 2007."

"We continue to execute very well on our projects," continued Dr. McKelvey. "We completed the integration of the CCSS acquisition, which was a tremendous accomplishment by our staff. Our sales force reports a healthy pipeline of new opportunities, reflecting the continued emphasis on cardiac safety and eRT's reputation for quality, medical and scientific leadership, project execution, and technology innovation. The pricing environment continues to be stable. In the current economic and financial environment, we feel that our strong balance sheet and cash flow, the continued importance of cardiac safety in clinical trials, and our established reputation for quality, project management, and cost-effective performance will be important contributors to our business going forward."

2008 Guidance

The Company issued guidance for the full year and fourth quarter of 2008. For the full year 2008, the Company is narrowing its revenue range and expects revenue of between $134.0 million and $137.0 million. The company is raising its guidance for diluted net income per share to between $0.47 to $0.50 for the full year 2008. The company's revenue guidance for the fourth quarter is between $31.0 to $34.0 million, and its guidance for diluted net income per share for the fourth quarter is between $0.10 and $0.13.

Conference Call

Dr. McKelvey and Keith Schneck, the Company's Chief Financial Officer, will hold a conference call to discuss these results. The conference call will take place at 5:00 p.m. EDT on October 30, 2008. Interested participants should call 1-866-277-1181 when calling within the United States or 617-597- 5358 when calling internationally. Please use pass code 54904519. There wil
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SOURCE eResearchTechnology, Inc.
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