Interim Results for the six months ended 31 August 2007
29 October 2007 - ClinPhone plc (“ClinPhone” or the “Company”), a leading specialist supplier of technology solutions to the clinical trials industry, announces its interim results for the six months ended 31 August 2007. ClinPhone’s technology reduces the cost and duration of running clinical trials and improves the accuracy, integrity and consistency of data collected.
Highlights
Market continues its adoption of technology in clinical trials
o Increased proposal activity
o Electronic Data Capture (“EDC”) market showing strong growth toward a service based model; supporting the medium to long term goals
o Market showing interest in integrated solutions as the first step in eClinical strategy
- Revenue increased by 11.5% (6 months to 31 August 2006: 32.0%) and, with a constant currency, by 18.1% (6 months to 31 August 2006: 32.0%)
- Despite the operational issues experienced in first half the Order Book remains healthy at £51.3m (31 August 2006: £50.1m)
- Operating loss £1,348,000 (31 August 2006: Profit £2.179m)
- Normalised profit of £424,000 (31 August 2006: £3.025m)
- Weakening US$: GBP exchange rate increased the operating loss by £480,000 and reduced the normalised profit by £725,000
- Fully Diluted Adjusted EPS (p)** 0.21p (6 months to 31 August 2006: 2.53p)
- Management has implemented a plan to address the operational issues
Steve Kent, Chief Executive of ClinPhone, said:
”This has been a challenging six months for ClinPhone, but it is testament to the Company’s market position, loyalty of its customers and quality of its employees that the business has been so resilient. I am particularly grateful to our employees for all their hard work.
“The demand for our products remains strong and the growth in the use of technology in clinical trials will continue. Our ongoing investment in capacity, quality and research and development will leave ClinPhone well placed to benefit from this continuing growth.”
A presentation and conference call for analysts will be held on 29 October at 9.30am at the offices of Financial Dynamics, Holborn Gate, 26 Southampton Buildings, London WC2A 1PB. Please call Gemma Cross-Brown for further details on 020 7269 7125.
ClinPhone plc Phone: +44 (0) 115 955 7333
Steve Kent – Chief Executive Officer
Scott Brown – Chief Financial Officer
Financial Dynamics Phone : +44 (0) 207 831 3113
David Yates / Ben Brewerton
* Normalised profit is the operating profit before gains and losses on foreign exchange instruments, listing associated share based payments and expenses and amortisation of acquired intangible assets.
**Fully diluted adjusted EPS is calculated using post tax normalised profit and all share capital capable of being issued at the period end. It also removes the tax effect of prior year research and development credits.
The full report can be found at http://www.clinphone.com/files/investor/Interim%20Results%2031%20August%202007.pdf
