Financial Report: BioClinica

BioClinica

2Q Revenues: $23.1 million (+13%)

2Q Earnings: $1.0 million (+12%)

YTD Revenues: $45.7 million (+14%)

YTD Earnings: $2.0 million (+59%)

Comments: Service revenues increased 13% to $19.1 million. Operating income was $3.3 million, compared to $2.0 million, including a restructuring charge of $679,000 in 2Q11. Backlog of $110.2 million was down from $112.5 million in 2Q11 due to the cancellation of a large drug program due to lack of efficacy. Mark L. Weinstein, president and chief executive officer of BioClinica, said, “Both our eClinical and medical imaging solutions contributed to our strong second quarter revenue growth. Our growth is coming from new customers as well as from further penetration of our existing customers. Currently 40% of our eClinical clients are using more than one of our solutions.”