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ERT Reports Second Quarter 2011 Operating Results
Date:8/1/2011

onsolidated Statements of Operations(in thousands, except per share amounts)(unaudited)Three Months Ended June 30,Six Months Ended June 30,2010201120102011Net revenues:Services $
8,697 $
22,416 $
33,532 $
46,393 Site support10,399 20,433 17,432 38,155 Total net revenues29,096 42,849 50,964 84,548 Costs of revenues:Cost of services8,325 13,615 15,636 26,771 Cost of site support4,957 13,189 7,756 23,312 Total costs of revenues13,282 26,804 23,392 50,083 Gross margin15,814 16,045 27,572 34,465 Operating expenses:Selling and marketing3,941 4,426 7,349 8,601 General and administrative9,753 7,247 14,498 14,755 Research and development1,069 1,802 1,927 3,185 Total operating expenses14,763 13,475 23,774 26,541 Operating income1,051 2,570 3,798 7,924 Foreign exchange gains (losses)399 (266)479 (1,275)Other (expense) income, net(3)(168)17 (269)Income before income taxes1,447 2,136 4,294 6,380 Income tax provision621 355 1,716 1,506 Net income $
826 $
,781 $
2,578 $
4,874 Net income per share:Basic $
.02 $
.04 $
.05 $
.10 Diluted $
.02 $
.04 $
.05 $
.10 Shares used in computing net income per share:Basic48,831 49,146 48,753 49,021 Diluted49,383 49,330 49,114 49,291 eResearchTechnology, Inc. and SubsidiariesConsolidated Balance Sheets(in thousands, except share and per share amounts)(unaudited)December 31, 2010June 30, 2011ASSETSCurrent assets:Cash and cash equivalents $
30,343 $
31,601 Short-term investments50 50 Investment in marketable securities48 972 Accounts receivable less allowance for doubtful accountsof $515 and $555, respectively37,236 34,525 Inventory4,698 ,893 Prepaid income taxes,988 3,216 Prepaid expenses and other4,393 5,886 Deferred income taxes3,431 3,431 Total current assets82,787 90,574 Property and equipment, net42,615 47,767 Goodwill71,637 77,357 Intangible assets7,187 5,702 Other assets9 80 Total assets $
214,835 $
232,080 LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities:Acco
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SOURCE ERT
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