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Financial Report: Kendle 3Q

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Kendle

3Q Revenues: $181.1 million (+27%)

3Q Earnings: $11.0 million  (+189%)

YTD Revenues: $517.3 million (+25%)

YTD Earnings: $24.4 million (+98%)

Comments: Early stage revenues were $11.2 million (+138%). Late stage revenues were $110.9 million (+19%). The acquisition of DecisionLine Clinical Research Corp. accounted for 6% of growth in the quarter. New business awards totaled a record $212 million in the quarter, (+21%). Contract cancellations totaled $38 million or 18% of sales for the quarter. Net income for 3Q07 included a charge for the write-off of deferred financing costs related to the company’s term debt. Services revenues in the quarter by geographic region were as follows: North America (+50%); Europe (+37%); Latin America (+9%); Asia-Pacific (+4%).

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