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Kendle Delivers Record Net Service Revenues and New Business Authorizations for First Quarter 2008
Date:5/7/2008

- Record net service revenues of $114.1 million, up 20% from first quarter

2007

- EPS of $0.38, up 36% from first quarter 2007 - Record new business awards of $180 million, up 20% from first quarter

2007 - Total business authorizations of $917 million, up 31% from first quarter

2007

CINCINNATI, May 7 /PRNewswire-FirstCall/ -- Kendle (Nasdaq: KNDL), a leading, global full-service clinical research organization, today reported financial results for the first quarter ended March 31, 2008.

(Logo: http://www.newscom.com/cgi-bin/prnh/20030429/KNDLLOGO )

Net service revenues for the three months ended March 31, 2008, were $114.1 million, an increase of 20 percent over net service revenues of $95.4 million for the same period a year ago. Net income per diluted share for the first quarter 2008 was $0.38 per share, up 36 percent from net income per diluted share of $0.28 for the same period of the prior year.

Income from operations for the three months ended March 31, 2008, was $14.0 million, or 12.2 percent of net service revenues, compared to income from operations of $12.5 million, or 13.1 percent of net service revenues for the same period of the prior year. Significant one-time expense items affecting selling, general and administrative expense in the first quarter of 2008 include costs related to an internal global leadership meeting, stock- based compensation expense related to the issuance of various equity-related awards to certain retirement-eligible Kendle associates and an increase in the bad debt re
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SOURCE Kendle International Inc.
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