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DATATRAK International, Inc. Announces Fourth Quarter and Full Year Results for 2010
Date:3/22/2011

CLEVELAND, March 22, 2011 /PRNewswire/ -- DATATRAK International, Inc. (OTCQX: DATA), a technology and services company focused on global eClinical solutions for the clinical trials industry, today announced its operating results for the fourth quarter and full year of 2010. Highlights of the fourth quarter of 2010 include: $2.0 million revenue, $11.2 million backlog and continued profitability.

"Our solid financial results continue to demonstrate that 2010 marked a new beginning for DATATRAK," noted Laurence P. Birch, DATATRAK's Chairman of the Board and CEO. "The last year was significant in DATATRAK's history. Compared to the last several years, 2010 was marked by record quarters of new contracts, revenue and most notably, profitability.  We successfully executed our 2010 strategy of business stability, including investing in additional resources paramount to our growth plans for 2011."

Corporate Highlights:

  • Fourth consecutive quarterly profit – ending 2010 profitably, a significant improvement as compared to a loss of $(1.9) million in 2009
  • Revenue for the fourth quarter of 2010 increased 38% over the fourth quarter of 2009 – the highest quarterly revenue in two years
  • Sales pipeline expansion – fourth quarter of 2010 new contracts of over $3 million was the highest quarter in 3 years
  • Backlog increased to $11.2 million at December 31, 2010 from $9.5 million at December 31, 2009
  • Cash balance at December 31, 2010 increased over the cash balance at December 31, 2009
  • Gross profit margin increased to 85% for the fourth quarter of 2010 compared to 73% for same period in 2009
  • First positive annual EPS since 2005
  • Announced the formation of a new services group – DATATRAK Clinical and Consulting Services™, focused on promoting our Connect Partners' services and supporting clients' clinical data management and design needs
  • Strengthened corporate lead
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  • SOURCE DATATRAK International, Inc.
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