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

20,548,337 19,070,611 20,589,364 19,167,022 See accompanying notes to the consolidated financial statements. ENCORIUM GROUP, INC. CONSOLIDATED CONDENSED BALANCE SHEETS (UNAUDITED) December 31, December 31, 2008 2007 Assets Current Assets Cash and cash equivalents $5,705,818 $9,109,456 Investigator advances 1,088,768 551,697 Accounts receivable, less allowance of $97,000 for 2008 and 2007, respectively 4,624,161 4,824,795 Prepaid expenses and other 1,206,088 867,651 Prepaid taxes 28,290 4,031 Costs and estimated earnings in excess of related billings on uncompleted contracts 1,443,427 994,777 Total Current Assets 14,096,552 16,352,407 Property and Equipment, Net 1,211,929 1,293,616 Intangible Assets Goodwill 1,366,269 15,388,299 Other intangibles, Net 3,733,517 4,204,825 Other assets 684,666 291,148 Total Assets $21,092,933 $37,530,295 Liabilities and Stockholders' Equity Current Liabilities Accounts payable $3,624,071 $1,366,905 Accrued expenses 3,004,627 3,696,404 Deferred taxes 206,173 316,675 Obligations under capital leases 72,542 29,688 Billings in excess of related costs and estimate
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SOURCE Encorium Group, Inc.
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