Key Developments For Eresearchtechnology Inc
Eresearchtechnology Inc (ERES.O) (Nasdaq)
eResearch Technology, Inc. Issues Q4 2009 Guidance Below Analysts' Estimates; Lowers FY 2009 Guidance; Comments On FY 2009 Guidance
eResearch Technology, Inc. announced that for the fourth quarter of 2009, it expects diluted net income per share (EPS) of between $0.05 and $0.06 and revenues of between $22.0 and $23.0 million. For fiscal 2009, the Company expects diluted EPS of between $0.20 and $0.21, which is in line with the lower end of previously issued guidance and revenue of between $92.7 and $93.7 million. Absent the economy slipping back into recession, significant adverse events surrounding the pharmaceutical industry or significant increases in cancellation rates, management currently believes that the increasingly positive booking trends seen in fiscal 2009 and a positive outlook for future bookings will result in revenue and diluted net income per share growth in fiscal 2010. According to Reuters Estimates, analysts on an average were expecting the Company to report EPS of $0.07 on revenue of $25.1 million for the fourth quarter of 2009; EPS of $0.22 on revenue of $97.7 million for fiscal 2009; EPS of $0.31 on revenue of $108 million for fiscal 2010.
eResearch Technology, Inc. Achieves Cardiac Safety Milestone After Completing 150th TET Trial
eResearch Technology, Inc. announced a significant milestone by completing its 150th thorough QT clinical Trial (TET). ERT provides full TET support to the biopharmaceutical industry, including consultation, study design, and provision of ECG equipment to ECG analysis, data processing, management, reconciliation, reporting, quality control and regulatory support.
eResearch Technology, Inc. Issues Q3, FY 2009 Outlook; Revenue Outlook Below Analysts' Estimates
eResearch Technology, Inc. announced that for the third quarter of 2009, it expects net revenues of between $23.0 and $25.0 million and diluted net income per share (EPS) of between $0.05 and $0.07. For fiscal 2009, the Company expects net revenues of between $96.0 and $102.0 million with diluted net income per share (EPS) of between $0.20 and $0.28. According to Reuters Estimates, analysts on an average were expecting the Company to report EPS of $0.07 on revenue of $26.3 million for the third quarter of 2009; EPS of $0.24 on revenue of $104.0 million for fiscal 2009.
OmniComm Systems, Inc. Announces Acquisition Of EDC Business Of eResearchTechnology, Inc.
OmniComm Systems, Inc. and eResearchTechnology, Inc. announced that OmniComm Systems, Inc. has acquired the EDC business of eResearchTechnology, Inc. Under the terms of the transaction, OmniComm Systems, Inc. issued 8.1 million shares of common stock and assumed certain liabilities including deferred revenue relating to eResearchTechnology, Inc.'s EDC business in exchange for the EDC assets of eResearchTechnology, Inc. which primarily include its EDC software, applications and fixed assets and $1.15 million in cash paid by eResearchTechnology, Inc. OmniComm Systems, Inc. will be opening a new branch office in the New Jersey area and will be transitioning the majority of the eResearchTechnology, Inc. eClinical support team to this new office to provide on-going support and maintenance to the ERT customers it acquires.
eResearchTechnology, Inc. Issues Q2, FY 2009 Outlook
eResearchTechnology, Inc. announced that for the second quarter of 2009, it anticipates net revenues of between $23.0 and $26.0 million and diluted net income per share (EPS) between $0.03 and $0.06. The Company expects fiscal 2009 net revenues of between $100.0 and $115.0 million with diluted net income per share of between $0.20 and $0.35.
