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Encorium Reports Second Quarter 2010 Financial Results
Date:8/17/2010

ter the date they are made or to reflect the occurrence of unanticipated events. Please refer to the section entitled "Risk Factors" in the Company Annual Report on Form 10-K for the year ended December 31, 2009 and the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2010.

www.encorium.com

--financial tables to follow--ENCORIUM GROUP, INCCONSOLIDATED BALANCE SHEET(UNAUDITED)June 30,December 31,20102009Assets(UNAUDITED)Current AssetsCash and cash equivalents

$
76,460$
96,583Investigator advances

12,54419,232Accounts receivable, less allowance of  $316,576 at June 30, 2010 and $412,973 at December 31, 2009

2,583,8123,454,173Prepaid expenses and other

1,017,327872,722Costs and estimated earnings in excess of related billings on uncompleted contracts1,421,7831,794,134Debt issuance costs, current

75,40075,400Current assets of discontinued operations

-28,832Total Current Assets5,287,3266,441,076Property and Equipment, Net305,003307,552Goodwill

1,183,1881,389,045Other intangibles, Net

2,865,9563,508,310Debt issuance costs, long-term

113,100150,800Other assets

268,050313,524Total Assets$
,022,623$   12,110,307Liabilities and Stockholders' EquityCurrent LiabilitiesAccounts payable

$
2,233,562$
,756,678Notes payable

530,471334,413Credit Lines

790,897300,697Accrued expenses

2,390,9562,333,099Deferred taxes

220,530248,117Obligations under capital leases

44,87354,510Billings in excess of related costs and estimated earnings on uncompleted contracts

1,043,5791,179,779Customer advances

1,370,9071,361,496Current liabilities of discontinued operations

503,753607,552Total Current Liabilities9,129,5288,176,341Long Term LiabilitiesNotes Payable

569,706668,826Obligations under capital leases

53,67952,541Deferred taxes

681,488837,424Ot
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SOURCE Encorium Group, Inc.
Copyright©2010 PR Newswire.
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