management team in 2007 with the promotion of R. Blane Walter to
President, Terrell G. Herring to Chief Operating Officer and other key
leadership appointments. In addition, in late 2007 inVentiv initiated
several key new investments, primarily in technology in its Clinical
segment and in integrated account management, in order to further drive
longer-term growth and margin expansion.
-- Strong Cash Flow: As a result of the strength of inVentiv's
operations, the Company generated $58.7 million of cash flow from
operations during 2007, including $43.2 million in the fourth quarter,
and finished the year with $98.1 million of cash and marketable
securities on the balance sheet as of December 31, 2007.
Mr. Eran Broshy, Chairman and Chief Executive Officer of inVentiv Health, commented, "I am very pleased with inVentiv's record fourth quarter and full year results, demonstrating our unique leadership position built on a strong and diversified business model. We have continued to effectively execute for our clients by offering best-in-class offerings, and also are increasingly delivering broader integrated solutions to our clients. At the same time, I am excited at our increasing new win momentum and the significant new business pipeline we are pursuing, which now stands at over $400 million."
2008 Guidance Reconfirmed
Based on the Company's strong performance during the fourth quarter and full year of 2007, the Company is, at this time, reconfirming its 2008 revenue guidance of $1.05 - $1.15 billion and adjusted earnings per share guidance of $1.80 - $1.90 including stock compensation expense (GAAP earnings per share guidance of $1.78 - $1.88).
Adjusted guidance figures exclude derivative interest income or expense
related to the Company's interest rate hedge on its term loan facility,
certain
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