Kendle Delivers Record Sales and Backlog and Strong Growth in Operating Margin for Third Qu...( - New business awards a record $17...),Health

- New business awards a record $175 million; net book-to-bill of 1.7:1 - Total business authorizations of $831 million, an all-time Company high - Third quarter operating margin of 14.2% (GAAP) and 15.3% (proforma)

- Third quarter EPS of $0.25 (GAAP) and $0.48 (proforma) - Record net service revenues of $100.1 million, up 33% over third quarter

2006

CINCINNATI, Oct. 31 /PRNewswire-FirstCall/ -- Kendle (Nasdaq: KNDL), a leading, global full-service clinical research organization, today reported financial results for third quarter 2007.

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

Net service revenues for third quarter 2007 were $100.1 million, an increase of 33 percent over net service revenues of $75.2 million for third quarter 2006. Net income per diluted share of $0.25 for third quarter 2007 includes a charge for amortization of acquired intangibles related to the August 2006 acquisition of the Phase II-IV clinical services business of Charles River Laboratories International, Inc. ("CRLCS") as well as a charge for the write-off of deferred financing costs related to the Company's term debt, which was paid off in the third quarter of 2007. Excluding these items, which are detailed in the Condensed Consolidated Statements of Income, earnings per share (EPS) for third quarter 2007 was $0.48 per diluted share. Interest expense in the third quarter 2007 was approximately $3.3 million, primarily related to debt incurred to finance the CRLCS acquisition, compared to interest expense of $2.3 million in third quarter 2006. EPS for third quarter 2006 was
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