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ERT Reports First Quarter 2011 Operating Results
Date:5/2/2011

development

8581,383Total operating expenses

9,01113,066Operating income

2,7475,354Foreign exchange gains (losses)

80(1,009)Other income (expense), net

20(101)Income before income taxes

2,8474,244Income tax provision

1,0951,151Net income

$
,752$
3,093Net income per share:Basic

$
.04$
.06Diluted

$
.04$
.06Shares used in computing net income per share:Basic

48,67548,896Diluted

48,84549,251eResearchTechnology, Inc. and SubsidiariesConsolidated Balance Sheets(in thousands, except share and per share amounts)(unaudited)December 31, 2010

March 31, 2011ASSETSCurrent assets:Cash and cash equivalents$
30,343$
29,614Short-term investments5050Investment in marketable securities6481,053Accounts receivable less allowance for doubtful accountsof $515 and $547, respectively37,23637,179Inventory4,6986,804Prepaid income taxes1,9882,660Prepaid expenses and other4,3935,531Deferred income taxes3,4313,431Total current assets82,78786,322Property and equipment, net42,61545,760Goodwill71,63776,702Intangible assets17,18717,435Other assets609718Total assets$
214,835$
226,937LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities:Accounts payable$
7,136$
,613Accrued expenses16,16212,971Deferred revenues11,67012,657Total current liabilities34,96832,241Deferred rent2,3682,405Deferred income taxes3,7033,888Long-term debt21,00021,000Other liabilities2,1412,235Total liabilities64,18061,769Stockholders' equity:Preferred stock-$10.00 par value, 500,000 shares authorized,none issued and outstanding--Common stock-$.01 par value, 175,000,000 shares authorized,,460,782 and 60,661,086 shares issued, respectively605607Additional paid-in capital100,441101,438Accumulated other comprehensive (loss) income(1,545)8,922Retained earnings131,037134,130Treasury stock, 11,589,603 and 11,596,966 shares at cost (79,883)(79,929)Total stockholders' equity150,655165,168Total liabilities and sto
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SOURCE ERT
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