Financial Report: Kendle 4Q

Kendle

4Q Revenues: $161.3 million (+4%)

4Q Earnings: $5.0 million (-22%)

FY Revenues: $678.6 million (+19%)

FY Earnings: $29.4 million (+57%)

Comments: Service revenues in the quarter were $109 million (+5%) and $475.1 million for the year (+19%). New business awards totaled $163 million in the quarter and $759 million for the year. Total business authorizations at Dec. 31, 2008, were $1.0 billion (+18%). Early stage service revenues were $9.7 million in the quarter (+70%) and $35.2 million for the year (+64%). Late stage service revenues were $98.5 million in the quarter (+4%) and $430.3 million for the year (+17%). North America revenues were up 52% in the quarter and 48% for the year. Revenues in Europe were up 36% in the quarter and 40% for the year. Latin America revenues were up 9% in the quarter and 8% for the year. Asia-Pacific revenues were up 3% in the quarter and 4% for the year. The company incurred additional costs in the quarter related to a programming issue for a study for one customer.