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Encorium Reports Fourth Quarter and Full Year 2008 Financial Results
Date:4/27/2009

Ended December 31, December 31, 2008 2007 2008 2007 Net revenue $7,057,805 $8,318,983 $30,241,889 $31,650,082 Reimbursement revenue 1,706,655 1,603,594 5,669,695 5,151,483 Total Revenue 8,764,460 9,922,577 35,911,584 36,801,565 Operating Expenses Direct (exclusive of depreciation and amortization) 4,767,869 5,409,385 21,343,636 20,241,921 Reimbursement out-of-pocket expenses 1,706,655 1,603,594 5,669,695 5,151,483 Selling, general and administrative 3,285,139 3,212,897 14,086,520 12,366,095 Depreciation and amortization 203,077 745,375 1,697,966 2,610,505 Impairment loss 12,535,809 - 14,391,992 - Total Operating Expenses 22,498,549 10,971,251 57,189,809 40,370,004 Loss from Operations (13,734,089) (1,048,674) (21,278,225) (3,568,439) Interest Income 29,620 83,291 130,647 296,884 Interest Expense 1,592 6,912 (29,569) (12,143) Net Interest Income 31,212 90,203 101,078 284,741 Net Loss before Income Taxes (13,702,877) (958,471) (21,177,147) (3,283,698) Income Tax Expense (Benefit) 36,416 (226,308) (103,671) (532,271) Net Loss $(13,739,293) $(732,163)$(21,073,476)$(2,751,427) Net Loss per Common Share Basic $(0.67) $ (0.04) $ (1.02) $(0.14) Diluted $(0.67) $ (0.04) $ (1.02) $(0.14) Weighted Average Common and Common Equivalent Shares Outstanding Basic 20,548,337 19,070,611 20,589,364 19,167,022 Diluted
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SOURCE Encorium Group, Inc.
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