Navigation Links
DATATRAK International, Inc. Announces First Quarter Results for 2009
Date:5/13/2009

Restructuring Plan Yields Positive Results

CLEVELAND, May 13 /PRNewswire-FirstCall/ -- DATATRAK International, Inc. (Nasdaq: DATA), a technology and services company focused on global eClinical solutions for the clinical trials industry, today announced its operating results for the first quarter of 2009.

Revenue for the first quarter of 2009 remained relatively constant at $2,086,000 compared to $2,088,000 in the same period of 2008. Gross profit margin improved to 77% for the three months ended March 31, 2009 compared to 55% for the first three months of 2008. The improvement in the Company's gross margin reflects a 49% reduction in direct costs.

For the three months ended March 31, 2009, DATATRAK's loss from operations was $(787,000) compared to $(2,225,000) in the first quarter of the prior year. The current year first quarter loss of $(787,000) includes $634,000 of severance charges related primarily to the separation of two executive officers of the Company. Selling, general and administrative expenses decreased approximately $1.2 million in the first quarter of 2009 compared to the first quarter of 2008. Excluding severance charges from both comparable periods, DATATRAK's loss from operations would be $(153,000) in the current year first quarter compared to $(2,199,000) in the same period last year. Net loss for the first quarter of 2009 was $(788,000), or $(0.06) per share on both a basic and diluted basis compared to $(2,233,000) in the first quarter of 2008, or $(0.16) per share on both a basic and diluted basis.

"We are very pleased with our first quarter results, which we believe reflect our continuing efforts to optimize our operating structure," commented Laurence P. Birch, Chairman of the Board and interim-Chief Executive Officer of the Company. "Excluding severance charges, our ope
'/>"/>

SOURCE DATATRAK International, Inc.
Copyright©2009 PR Newswire.
All rights reserved

0

GOOD

Page: 1 2 3 4 5 6

Related medicine news :

1. DATATRAK International Management To Host Conference Call on November 8, 2007 To Discuss Third Quarter and Nine Month Operating Results for 2007
2. DATATRAK International, Inc. Announces 2007 Third Quarter and Nine Month Operating Results
3. DATATRAK International Launches Innovative, Interactive Educational Webcast Series
4. DATATRAK to Present at the Roth Capital Partners 20th Annual Orange County Stock Conference
5. DATATRAK Closes Second Multi-Year Enterprise Agreement with European Clinical Trial Sponsor
6. DATATRAK International Management to Host Conference Call on February 26, 2008 to Discuss Fourth Quarter and Full Year Operating Results for 2007
7. DATATRAK International Reports Fourth Quarter and Full Year Results for 2007
8. DATATRAK Announces Restructured Senior Management Team
9. Ease-of-Use and Intuitive Nature of the DATATRAK eClinical(TM) Platform Allows for Further Operational Efficiencies
10. DATATRAK International, Inc. Receives Notice From Nasdaq
11. DATATRAK International Management to Host Conference Call on November 6, 2008 to Discuss Third Quarter and Nine Month Operating Results for 2008
Post Your Comments:
*Name:
*Comment:
*Email:
Breaking Medicine Technology:AMP Receives $1.4 Million Grant From the Bill & Melinda Gates Foundation to Improve Advocacy for VACCINES and Immunization Systems in West Africa 2AMP Receives $1.4 Million Grant From the Bill & Melinda Gates Foundation to Improve Advocacy for VACCINES and Immunization Systems in West Africa 3Pharmacy Technician Employment Increasing Up to 32% By 2016 2Novartis Tasigna(R) (nilotinib) Trial Shows Superior Results to Glivec(R) (imatinib) in Newly Diagnosed, Chronic Phase Chronic Myeloid Leukaemia 2Novartis Tasigna(R) (nilotinib) Trial Shows Superior Results to Glivec(R) (imatinib) in Newly Diagnosed, Chronic Phase Chronic Myeloid Leukaemia 3Novartis Tasigna(R) (nilotinib) Trial Shows Superior Results to Glivec(R) (imatinib) in Newly Diagnosed, Chronic Phase Chronic Myeloid Leukaemia 4Novartis Tasigna(R) (nilotinib) Trial Shows Superior Results to Glivec(R) (imatinib) in Newly Diagnosed, Chronic Phase Chronic Myeloid Leukaemia 5Novartis Tasigna(R) (nilotinib) Trial Shows Superior Results to Glivec(R) (imatinib) in Newly Diagnosed, Chronic Phase Chronic Myeloid Leukaemia 6Folk Medicine Therapy May Prevent Alcoholic Relapse 54302 1Folk Medicine Therapy May Prevent Alcoholic Relapse 54302 2Beckman Coulter Announces the Creation of Beckman Coulter Genomics 54297 1Beckman Coulter Announces the Creation of Beckman Coulter Genomics 54297 2Beckman Coulter Announces the Creation of Beckman Coulter Genomics 54297 3Biostar Pharmaceuticals Inc to Host Fiscal Year 2009 Second Quarter Earnings Conference Call on Friday August 14 2009 at 10 3A30 a m EDT 13519 1Biostar Pharmaceuticals Inc to Host Fiscal Year 2009 Second Quarter Earnings Conference Call on Friday August 14 2009 at 10 3A30 a m EDT 13519 2Biostar Pharmaceuticals Inc to Host Fiscal Year 2009 Second Quarter Earnings Conference Call on Friday August 14 2009 at 10 3A30 a m EDT 13519 3