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ERT Reports Third Quarter 2009 Results
Date:10/29/2009

PHILADELPHIA, Oct. 29 /PRNewswire-FirstCall/ -- eResearchTechnology, Inc. (ERT), (Nasdaq: ERES), a leading provider of centralized ECG, ePRO and other services to the biopharmaceutical, medical device and related industries, announced today results for the third quarter and nine-month period ended September 30, 2009. Unless otherwise noted, all comparative numbers refer to changes from the same period a year ago.

Financial highlights for the third quarter of 2009:

  • Net income was $2.8 million, or $0.06 per diluted share in the third quarter of 2009 compared to $2.5 million, or $0.05 per diluted share for the second quarter of 2009 and $6.9 million, or $0.13 per diluted share a year ago.
  • Revenue was $22.7 million for the third quarter of 2009 compared to $24.2 million for the second quarter of 2009 and $33.9 million a year ago. The current year third quarter results do not include the EDC operations, which were sold on June 23, 2009. EDC licenses and services revenue was $1.1 million in the second quarter of 2009 and $1.6 million a year ago.
  • Gross margin percentage was 51.6% in the third quarter of 2009 compared to 52.3% for the second quarter of 2009 and 56.3% a year ago.
  • Operating income margin percentage was 20.7% in the third quarter of 2009 compared to 20.0% for the second quarter of 2009 and 31.1% a year ago.
  • New bookings were $42.3 million in the third quarter of 2009 compared to $35.7 million for the second quarter of 2009 and $43.0 million a year ago. Prior quarters included bookings related to the EDC operations of $1.1 million in the second quarter of 2009 and $1.3 million a year ago.
  • The gross book-to-bill ratio was 1.9 in the third quarter of 2009, the highest value ever recorded in recent history by ERT, compared to 1.5 in the second quarter of 2009 a
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SOURCE eResearchTechnology, Inc.
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