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DATATRAK International, Inc. Announces 2008 Third Quarter and Nine Month Operating Results
Date:11/6/2008

DATATRAK International, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations

(Unaudited)

For the Nine Months Ended

September 30,

2008 2007

Revenue $6,704,165 $8,723,138

Direct costs 2,400,663 3,617,858

Gross profit 4,303,502 5,105,280

Selling, general and administrative expenses 9,044,221 10,326,314

Impairment loss 12,763,145 213,209

Severance expense 651,750 723,429

Depreciation and amortization 1,208,152 2,178,986

Loss from operations (19,363,766) (8,336,658)

Interest income 106,723 350,328

Interest expense (175,489) (285,616)

Other (13,761) (1,700)

Loss before income taxes (19,446,293) (8,273,646)

Income tax expense 385,000 93,600

Net loss $(19,831,293) $(8,367,246)

Net loss per share:

Basic:

Net loss per share $(1.45) $(0.64)

Weighted average shares outstanding 13,681,901 13,014,534

Diluted:

Net loss per share $(1.45) $(0.64)

Weighted average shares outstanding 13,681,901 13,014,534


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SOURCE DATATRAK International, Inc.
Copyright©2008 PR Newswire.
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