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ReSearch Pharmaceutical Services, Inc. Unaudited Quarterly Report for the Period Ended September 30, 2009
Date:11/13/2009

FORT WASHINGTON, Pa., Nov. 13 /PRNewswire/ -- ReSearch Pharmaceutical Services, Inc. ("RPS" or the "Company"), a leading provider of integrated clinical development outsourcing solutions to the bio-pharmaceutical industry, is pleased to announce its results for the third quarter and nine months ended September 30, 2009. These statements include unaudited comparative results for RPS for the quarter and nine months ended September 30, 2008.

In addition, RPS announces that it has today filed a Form 10-Q for the period ended September 30, 2009, as required by the Securities and Exchange Commission ("SEC"). A copy of the Form 10-Q is available on our website (www.rpsweb.com).

The following discussion of financial and operational highlights for the three and nine month periods ended September 30, 2009 is qualified by reference to the unaudited financial results included in this press release and the Company's Form 10-Q, as filed with the SEC.

Financial highlights for the three months ended September 30, 2009

  • Service revenues for the third quarter of 2009 of $51.7 million grew $12.6 million or 32.1% as compared to the same period in 2008.
  • Direct costs increased 25.8% to $37.2 million for the third quarter of 2009, but decreased as a percentage of service revenue, from 75.6% to 71.9%, from the third quarter of 2008.
  • Selling, general, and administrative expenses increased 43.8% to $11.3 million for the third quarter of 2009 from $7.8 million for the third quarter of 2008.
  • EBITDA for the third quarter of 2009 of $3.2 million or 6.2% of service revenues, increased from $1.7 million or 4.4% of service revenues for the third quarter of 2008.
  • Net income before provision for income taxes for the third quarter of 2009 of $2.2 million increased $0.9 million from $1.3 million for the third quarter of 2008. Net income for the third quarter of 2009 increased to $1.0 million, from net inc
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SOURCE ReSearch Pharmaceutical Services, Inc.
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