ERT CEO Discusses Q3 2010 Results - Earnings Call Transcript
Several clients have expressed support for buying multiple services from one vendor especially vendors with a strong reputation for quality and service that ERT and RS have in the marketplace.
Other advantages decided by clients are bringing together the combined medical expertise of two of the leading providers of technology and services used in clinical trials. The increased resources that the combined company can bring, the increased global foot print of a combined company and the advantages of working on a company whose sole current focus is on clinical trials.
The third quarter of 2010 showed the highest quarterly level of revenue ever recorded by ERT, 45.1 million. Revenue in the third quarter increased 55% sequentially and 99% from the year ago.
Almost all of the increased revenue came from RS with only a small increase in revenue from legacy ERT. Legacy ERT revenue was impacted by delays and the start of both routine and Thorough QT trials as well as by seasonality in the third quarter.These trial delays are consistent with what seems to be experienced reported by several large CROs recently. Although our cardiac safety bookings continue to be strong, the conversion of these bookings and the revenue continues to take longer.Legacy ERT revenues increased 4% in the third quarter compared to a year ago. This year-over-year increase in legacy ERT revenues was primarily due to a pick up in routine ECG revenues and the strong increase in ePRO revenue albeit it from a low base offset by a decline in revenues from zero QT trials.Legacy RS recorded 21.5 million in revenues for the third quarter. The RS revenues in the second quarter were 5.7 million while this represented just one month June of revenues.Read the rest of this transcript for free on seekingalpha.com
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV