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ERT Reports Third Quarter 2010 Results
Date:11/4/2010

enses and other

3,3085,516Deferred income taxes

1,6492,411Total current assets

104,02172,051Property and equipment, net

24,20541,809Goodwill

34,67671,613Intangible assets

1,60719,565Other assets

352513Total assets

$
4,861$
205,551LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities:Accounts payable

$
3,007$
3,874Accrued expenses

5,99013,499Income taxes payable

346-Deferred revenues

11,72813,283Total current liabilities

21,07130,656Deferred rent

2,3572,220Deferred income taxes

2,5022,098Long-term debt

-21,000Other liabilities

1,2592,220Total liabilities

27,18958,194Stockholders' 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,,189,235 and 60,453,270 shares issued, respectively

602604Additional paid-in capital

97,36799,723Accumulated other comprehensive loss

(1,580)(4)Retained earnings

121,166126,917Treasury stock, 11,589,603 shares at cost

(79,883)(79,883)Total stockholders' equity

137,672147,357Total liabilities and stockholders' equity

$
4,861$
205,551eResearchTechnology, Inc. and SubsidiariesConsolidated Statements of Cash Flows(in thousands)(unaudited)Nine Months Ended September 30,20092010Operating activities:   Net income

$   7,437$
5,751   Adjustments to reconcile net income to net cashprovided by operating activities:Gain on sale of EDC operations

(530)-Depreciation and amortization

9,69412,753Cost of sales of equipment

93767Provision for uncollectible accounts

210-Share-based compensation

2,1452,048Deferred income taxes

347(1,043)Changes in operating assets and liabilities:Accounts receivable

12,516(6,429)Inventory

-(984)Prepaid expenses and other

(1,269)(640)Accoun
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SOURCE eResearchTechnology, Inc.
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