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

her liabilities

98,885104,624Liability for warrants to purchase common stock

109,000-Total Long Term Liabilities1,512,7581,663,415Total Liabilities10,642,2869,839,756Commitments and contingenciesStockholders' Equity (Deficit)Common stock,  $.001 par value 4,375,000 shares authorized, 3,447,002 and 3,426,938 shares issued at June 30, 2010 and December 31, 2009, and 3,408,237 and 3,388,173 shares outstanding at June 30, 2010 and December 31, 2009, respectively

3,4473,427Additional paid-in capital

35,380,84835,442,460Accumulated deficit

(36,335,885)(33,607,123)Accumulated other comprehensive income

1,058,6161,158,476107,0262,997,240Less: Treasury stock, at cost, 38,765 shares

(726,689)(726,689)Total Stockholders’ Equity (Deficit)(619,663)2,270,551ENCORIUM GROUP, INCCONSOLIDATED STATEMENTS OF OPERATIONS(UNAUDITED)Three Months EndedSix Months EndedJune 30, June 30, 2010200920102009RevenueNet revenue

$
3,775,262$
4,483,263$
,776,622$
9,021,436Reimbursement revenue

613,238799,3151,169,4031,915,366Total Revenue4,388,5005,282,5787,946,02510,936,802Operating ExpensesDirect

2,654,4493,421,0745,450,9896,364,975Reimbursement out-of-pocket expenses

613,238799,3151,169,4031,915,366Selling, general and administrative

1,800,1142,238,5613,810,8304,320,868Depreciation and amortization

95,95992,877190,541183,375Total Operating Expenses5,163,7606,551,82710,621,76312,784,584Loss from Operations(775,260)(1,269,249)(2,675,738)(1,847,782)Interest Income

-1,064-10,107Interest Expense

(60,691)(2,059)(74,976)(14,563)Net Interest (Expense) Income(60,691)(995)(74,976)(4,456)Gain on Warrants15,301-15,301-Net Loss from continuing operations before Income Taxes(820,650)(1,270,244)(2,735,413)(1,852,238)Income Tax Expense (Benefit)(15,493)11(22,082)(7,927)Net Loss from continuing operations$
(805,157)$
(1,270,255)$
(2,713,331)$
(1,844,311)Net loss from discontin
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SOURCE Encorium Group, Inc.
Copyright©2010 PR Newswire.
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