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Financial Report: PPD 3Q

Clinical Development Services revenue was $260.3 million in the quarter (+4%).

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By: Tim Wright

Editor-in-Chief, Contract Pharma

PPD 3Q

3Q Revenues: $365.4 million (+7%)

3Q Earnings: $38.0 million (+1%)

YTD Revenues: $1.1 billion (+2%)

YTD Earnings: $76.2 million (earnings were $140.3 million YTD09)

Comments: Clinical Development Services revenue was $260.3 million in the quarter (+4%). Lab Services revenue was up 17% to $79.0 million. Backlog at September 30, 2010 was $3.4 billion. Contract cancellations and adjustments were $220.9 million in the quarter, including two project cancellations totaling $92.8 million.

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