2008

PDS Acquisition Boosts Bio-Imaging Earnings

Thursday, August 21, 2008

Newtown, Pa.-based contract research organization (CRO) Bio-Imaging Technologies released second quarter financial results that show a 61% increase in service revenues compared with the same period a year ago. Revenues hit $15.2 million for its second quarter compared with $9.5 million for the same period last year. This most recent earnings report reflects the operating results of Bio-Imaging’s March 2008 acquisition of Phoenix Data Systems (PDS). Bio-Imaging’s backlog increased 44.6% to $115.8 million, of which $17.2 million is attributable to PDS. Based on Bio-Imaging Technologies success during the first half of the year, president and chief executive officer Mark Weinstein said the company is increasing its 2008 service revenue guidance to $53 million to $56 million, up from $53 million to $55 million.

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China-based WuXi Reports Successful Second Quarter

Tuesday, August 19, 2008

A year after going public on the New York Stock Exchange, Chinese contract research, development and manufacturing company WuXi PharmaTech reported second quarter net revenues of $70.8 million—a 134% increase compared with the same period last year.

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Encorium Releases Q2 Financials, Optimistic About Q3

Friday, August 15, 2008

Contract research organization (CRO) Encorium released its Q2 earnings report after the bell Thursday, reflecting an increase in net revenue for Q2 2008 over Q2 2007 but a decrease in net revenue for the six months ended June 30, 2008 compared with the same period in 2007. Net revenues for the first six months of 2008 dropped to $15.7 million from $16.1 million for the same period in 2007. The company also reported a net loss of $3.5 million, or $0.17 per share, for the first six months of 2008 compared with a net loss of $738,000, or $0.04 per share, for the first six months of 2007.

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