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

ientifica, Lda.
  • Co-sponsored a seminar in Tel Aviv, Israel with Connect partner, PFC Pharma Focus
  • In August, announced Safe Harbor certification for the EU and Switzerland
  • Strengthened Investor Relations outreach
  • Presentations at OneMedForum events in San Francisco and New York
  • Presentation at the Rodman and Renshaw 12th Annual Healthcare conference
  • Announced that Zacks Investment Research initiated coverage on the Company

  • "We stated a year ago that 2010 would be focused on capitalizing on previous restructuring efforts, remaining client-centric, continuing to deliver cutting edge technologies and expanding our sales and marketing initiatives," continued Birch. "We maintained this focus throughout 2010, and the successes are evident in our financial results.  We look forward to converting these successes into re-growth of the organization in 2011 and firmly establishing DATATRAK's patented technology as the industry's leading unified software suite."

    Financial Highlights:

    Revenue for the fourth quarter of 2010 increased 38% to $2,015,000 compared to $1,464,000 in the same period of 2009. Gross profit margin increased to 85% for the three months ended December 31, 2010 compared to 73% for the last three months of 2009. The increase in the Company's gross margin reflects the increase in revenue and a 23% reduction in direct costs.

    DATATRAK's income from operations in the fourth quarter of 2010 was $23,000 compared to a loss from operations of $(655,000) in the same quarter of the prior year. The 2010 fourth quarter income from operations includes: (i) severance expense of $10,000, (ii) research and development expense of $207,000, (iii) stock compensation expense of $71,000, and (iv) non-cash items of $118,000. The 2009 fourth quarter loss from operations includes: (i) severance expense of $46,000, (ii) research and development expense of $280,000, (iii) stock compensation expe
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    SOURCE DATATRAK International, Inc.
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