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Kendle Reports Record 3Q 08 Net Income and Total Business Authorizations
Date:11/4/2008

- Record EPS of $0.73, up 192% from third quarter 2007 - New business awards of $212 million, up 21% from third quarter 2007 - Total business authorizations of $1 billion at Sept. 30, 2008, up 16%

from Dec. 31, 2007

CINCINNATI, Nov. 4 /PRNewswire-FirstCall/ -- Kendle (Nasdaq: KNDL), a leading, global full-service clinical research organization, today reported record net income of $11.0 million or $0.73 per diluted share for its third quarter ended Sept. 30, 2008, compared to net income of $3.8 million, or $0.25 per diluted share for the third quarter ended Sept. 30, 2007. Net income for the third quarter of 2007 included a charge for the write-off of deferred financing costs related to the Company's term debt, which was paid off in the third quarter of 2007. The charges totaled $4.2 million or $0.18 per diluted share. Excluding the effect of this item, earnings per share for third quarter 2007 were $0.43 on a diluted basis.

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Net service revenues for the quarter ended Sept. 30, 2008, were $124.8 million, an increase of 25 percent over the same period in 2007. Net service revenues from the June 2, 2008, acquisition of DecisionLine Clinical Research Corporation accounted for approximately 6 percent of the growth in third quarter 2008 net service revenues. The top five customers based on net service revenues accounted for 24 percent of net service revenues for both the third quarter of 2008 and the third quarter 2007.

New business awards for the quarter totaled a record $212 million, an increase of 21 percent over the same pe
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SOURCE Kendle International Inc.
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