CROs/Service Providers

Averion Reports Second Quarter Loss

Monday, August 27, 2007

The Boston-based contract research organization (CRO) Averion International reported a net operating loss of $577,253 for the second quarter of 2007 on total revenues of $9.81 million. That compared to a loss of $912,140 during the same period last year from just $4.92 million in revenue. For the first half of the year – ending June 30th of 2007 – Averion reported $19.1 million in revenue and a net loss of $2.47 million compared with $9.88 million in revenue and a net loss of $1.94 million during the same period in 2006.

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Datatrak Revenue Down 37% in Q2

Tuesday, August 21, 2007

Datatrak, an electronic data capture company, reported its second quarter revenue slumped 37% to $3.07 million and a net loss of $2.97 million or $0.22 per share on a basic and diluted basis. These results compared with revenue of $4.83 million and a net loss of $702,000, or $0.06 per share basic and diluted basis, in the second quarter of 2006. Datatrak laid off 17 employees in the second quarter, recording severance charges totaling $337,000.

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Kendle Service Revenue Jumps

Tuesday, August 7, 2007

Cincinnati-based CRO Kendle reported nearly a 60% jump in service revenue during the second quarter of 2007 compared with last year’s same period. The company had net revenue of $97.8 million for the quarter compared with $62.1 million in 2006. Kendle reported second quarter earnings per share of $.29 and total income from operations of $10.9 million.

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PRA International Agrees to Genstar Capital Buyout

Monday, July 30, 2007

In a move that will take Reston, Va.-based contract research organization (CRO) PRA International off the public market, the company has entered into an agreement to be purchased by Genstar Capital, a private equity group based in San Francisco. The deal is valued at $790 million.

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Phase Forward Revenue, Profits Jump

Wednesday, July 25, 2007

Waltham, Mass.-based Phase Forward, a provider of electronic data capture (EDC), drug safety and data management solutions for clinical trials, reported second quarter revenues rose 28% to $31.5 million and profits doubled.

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