1Q Financial Report: SFBC International

SFBC International

1Q Revenues: $110 million (+14%)

1Q Loss: $4 million* (earnings were $5 million 1Q2005)

Comments: Early Clinical Development segment revenues were approximately $33 million, or 41% of total revenues, down 20%. The loss from operations for Early Clinical Development was approximately $5.6 million, representing a (17.0)% operating margin on revenue. Late Clinical Development segment revenues were approximately $47 million, or 59% of total revenue, up 31%. Earnings from operations for Late Clinical Development were approximately $7.5 million, up 103%.

*As a result of weak revenues, operating results and outlook for its Miami and Fort Myers, FL facilities, the company recorded pre-tax, non-cash goodwill and long-lived asset impairment charges of approximately $7.1 million in the quarter.