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Early-stage revenues dropped 15% to $7.3 million in 2Q09, but rose 15% for YTD09
August 5, 2009
By: Tim Wright
Kendle Int’l. 2Q Revenues: $107.4 million (-15%) 2Q Earnings: $3.2 million (-48%) YTD Revenues: $215.5 million (-11%) YTD Earnings: $4.1 million (-61%) Comments: New business awards were $132 million, while there were $48 million in contract cancellations, comprising 5% of the company’s backlog. Early-stage revenues dropped 15% to $7.3 million in 2Q09, but rose 15% for YTD09. Late-stage revenues fell 17% to $96.6 million for 2Q09 and 13% in YTD09 to $193.2 million. During this quarter, the company took a $6.0 million pretax charge for severance and other restructuring costs. Sign up today for Contracting & Outsourcing 2009!
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