• SKIP TO CONTENT
  • SKIP NAVIGATION
  • Patient Resources
    • Clinical Trial Listings
    • What are Clinical Trials?
    • Become a Clinical Trial Volunteer
    • Useful Resources
    • FDA Approved Drugs
  • Professional Resources
    • Research Center Profiles
    • Market Research
    • Benchmark Reports
    • FDA Approved Drugs
    • Training Guides
    • Books
    • eLearning
    • Events
    • Newsletters
    • White Papers
    • SOPs
  • White Papers
  • Clinical Trial Listings
  • Advertise
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Home » Phase Forward Sees 22% Jump in Revenues

Phase Forward Sees 22% Jump in Revenues

February 6, 2007
CenterWatch Staff

Waltham, Mass.-based eClinical company Phase Forward reported a 22% jump in revenues to $106.6 million in 2006, compared with the previous year’s $87.1 million. In the fourth quarter of 2006, the company posted revenues of $30.2 million, a 28% increase compared with the fourth quarter of 2005.

Income from operations was $4.1 million, representing an increase of 67% from the prior year period and an operating margin of 13.6%. Income from operations was $13.2 million in 2006, representing an increase of 46% from 2005 and a full year operating margin of 12.4%. Net income was $16.2 million, or $0.45 per diluted share, for the full year compared with $12.7 million, or $0.36 per diluted share in 2005. Phase Forward’s share price jumped 7% to $14.49 on Feb. 1.

The company also won a contract with the Dublin-based CRO ICON. The agreement will be under Phase Forward’s CRO Advantage Program. ICON secured four studies in the fourth quarter that will use Phase Forward’s EDC solution, InForm. Phase Forward stated it added 38 new clients in 2006, including CardioFocus, Altana Pharma AG (now part of Nycomed)  Teijin Pharma and Orexigen.

“The fourth quarter was a strong finish to an excellent year for Phase Forward. During 2006, we accomplished key objectives such as winning numerous major purchase decisions, expanding and diversifying our customer base, and enhancing our market leadership position,” said Bob Weiler, chief executive officer for the firm.

    Upcoming Events

    • 05Dec

      Thriving in Clinical Research – Overcoming Common Challenges as a Site: Part 3 – Site Resourcing

    • 14Apr

      MAGI 2024: The Clinical Research Conference

    Featured Products

    • Surviving an FDA GCP Inspection

      Surviving an FDA GCP Inspection: Resources for Investigators, Sponsors, CROs and IRBs

    • Best Practices for Clinical Trial Site Management

      Best Practices for Clinical Trial Site Management

    Featured Stories

    • Jonathan Seltzer

      Thought Leadership: Remote Patient Monitoring Gives New View of Safety in Cardiac Clinical Trials

    • Quality_Compass-360x240.png

      Ask the Experts: Applying Quality by Design to Protocols

    • Obesity Treatment Patient

      Clinical Trials Need Greater Representation of Obese Patients, Experts Say

    • Modernize-360x240.png

      FDA IT Modernization Plan Prioritizes Data-Sharing, AI, Collaboration and More

    Standard Operating Procedures for Risk-Based Monitoring of Clinical Trials

    The information you need to adapt your monitoring plan to changing times.

    Learn More Here
    • About Us
    • Contact Us
    • Privacy Policy
    • Do Not Sell or Share My Data

    Footer Logo

    300 N. Washington St., Suite 200, Falls Church, VA 22046, USA

    Phone 703.538.7600 – Toll free 888.838.5578

    Copyright © 2023. All Rights Reserved. Design, CMS, Hosting & Web Development :: ePublishing