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Clinical Services grow 14%
July 27, 2011
By: Tim Wright
PPD 2Q11 2Q Revenues: $407.7 million (+10%) 2Q Earnings: $45.4 million (+116%) YTD Revenues: $791.0 million (+10%) YTD Earnings: $82.8 million (+98%) Comments: Clinical Development Services revenue for the quarter was up 14% to $291.5 million. Laboratory Services revenue was up 8% to $84.7 million. Gross authorizations in the quarter totaled $752.6 million. Backlog stood at $3.7 billion on June 30, 2011. Contract cancellations were $268.6 million. Income from operations for the quarter was higher due to increased revenue and a decrease in R&D and operating expenses due to the spin-off of Furiex Pharmaceuticals, Inc.
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