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

3,223

Total operating expenses 6,142 8,553 20,149 27,210

Operating income 5,361 10,549 14,708 29,803

Other income, net 584 251 1,703 922

Income before income taxes 5,945 10,800 16,411 30,725

Income tax provision 2,239 3,870 6,318 11,389

Net income $3,706 $6,930 $10,093 $19,336

Basic net income per share $0.07 $0.14 $0.20 $ 0.38

Diluted net income

per share $0.07 $0.13 $0.20 $ 0.37

Shares used to calculate

basic net income

per share 50,594 50,856 50,430 50,743

Shares used to calculate

diluted net income per

share 51,829 52,180 51,681 52,085

eResearchTechnology, Inc. and Subsidiaries

Consolidated Balance Sheets

(in thousands, except share and per share amounts)

December 31, 2007 September 30, 2008

ASSETS (unaudited)

Current assets:

Cash and cash equivalents $38,082 $62,326

Short-term investments 8,797 50

Accounts receivable, net 26,718 32,827

Prepaid income taxes 743 -

Prepaid expenses and other 3,087 4,132

Deferred income taxes 901 1,017

Total current assets 78,328 100,352

Property and equipment, net 33,347 27,345

Goodwill
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SOURCE eResearchTechnology, Inc.
Copyright©2008 PR Newswire.
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