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ERT Reports Third Quarter 2010 Results

h the Securities and Exchange Commission or elsewhere from time to time by, or on behalf of, us.eResearchTechnology, Inc. and SubsidiariesConsolidated Statements of Operations(in thousands, except per share amounts)(unaudited)Three Months Ended September 30,Nine Months Ended September 30,2009201020092010Net revenues:Services

25,929$ 48,292$
59,461Site support

6,75719,19919,89536,631EDC licenses and services

--2,501-Total net revenues

22,72645,12870,68896,092Costs of revenues:Cost of services

7,57713,52622,94129,162Cost of site support

3,41811,50510,52319,261Cost of EDC licenses and services

--863-Total costs of revenues

10,99525,03134,32748,423Gross margin

11,73120,09736,36147,669Operating expenses:Selling and marketing

3,0564,4789,75611,827General and administrative

2,9777,78010,58122,278Research and development

9891,2503,1313,177Total operating expenses

7,02213,50823,46837,282Operating income

4,7096,58912,89310,387Other expense, net

(82)(1,944)(375)(1,448)Income before income taxes

4,6274,64512,5188,939Income tax provision

1,8081,4725,0813,188Net income

3,173$   7,437$
5,751Net income per share:Basic


.12Shares used in computing net income per share:Basic


48,75549,25849,69849,162eResearchTechnology, Inc. and SubsidiariesConsolidated Balance Sheets(in thousands, except share and per share amounts)(unaudited)December 31, 2009September 30, 2010ASSETSCurrent assets:Cash and cash equivalents

9,333Short-term investments

9,78250Investment in marketable securities

1,026648Accounts receivable less allowance for doubtful accountsof $548 and $785, respectively


-3,879Prepaid income taxes

2,6982,989Prepaid exp

SOURCE eResearchTechnology, Inc.
Copyright©2010 PR Newswire.
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