« Return to News | R&D Trends

Phase Forward Q3 Revenues Jump 24%, Earnings Down by Half

Friday, October 30, 2009 09:11 AM

Waltham, Mass-based Phase Forward, a provider of data management solutions for clinical trials and drug safety, reported third quarter revenues jumped 24% to $53.1 million, compared with the third quarter of 2008, but earnings were cut in half.

For the third quarter, income from operations was $2.4 million, compared with $4.4 million in the third quarter of 2008. Net income for the period was $1.8 million, or $0.04 per diluted share, compared with $0.08 per diluted share in 2008.

Within total revenues, electronic data capture license, application hosting and other related revenues were $38.5 million, representing 71% of third quarter total revenues and an increase of 18% from $32.7 million in the prior year period.

Bob Weiler, chairman and CEO, said, “The combination of solid revenue growth and expense management led to non-GAAP operating income and EPS that were above our guidance for the quarter.”

Total cash, cash equivalents and investments were $147.2 million at the end of the third quarter, which was down from $168.7 million at the end of the prior quarter because Phase Forward spent approximately $21 million used in the previously announced acquisitions of Maaguzi and Covance’s IRT business unit.

Share:          
CLINICAL TRIAL RESOURCES

Search:

NEWS ONLINE ARCHIVE

Browse by:

CWWeekly

December 17

Medici Global says its Alzheimer's Facebook page demonstrates the need for more early detection trials

Analysts: Expect more equity purchases of CROs in 2013

Already a subscriber?
Log in to your digital subscription.

Subscribe to CWWeekly.

The CenterWatch Monthly

January 2013

Parexel celebrates 30 years of change, growth
CRO's founder and chairman reflects on challenges of the past, present and future

Strategies for increasing patient diversity in trials
Sponsors look to improve racial, ethnic recruitment without going overseas

Already a subscriber?
Log in to your digital subscription.

Purchase the January issue.

Subscribe to The CenterWatch Monthly.

December 2012

Publicity, regulation tightening reins on use of KOLs
Debate rages over need to revamp how sponsors use, pay medical experts

Time may be right to makeover the investigator brochure
Size, complexity prevent critical document from being thoroughly read

Already a subscriber?
Log in to your digital subscription.

Purchase the December issue.

Subscribe to The CenterWatch Monthly.

JobWatch centerwatch.com/jobwatch

Featured Jobs

More Jobs

 

Copyright © 1995-2013 CenterWatch.