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news.Phase Forward, a provider of integrated data management solutions for clinical trials and drug safety, has reported a net income of $4.08 million, or $0.09 per share, for the first quarter of 2009, compared to $4 million, or $0.09 per share, for the first quarter of 2008.
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For the first quarter of 2009, GAAP income from operations was $5.2 million, compared to $4.4 million in the first quarter of 2008. The company reported total revenues of $48.82 million for the first quarter of 2009, a 28% increase, compared to $38.02 million for the same period of 2008.
Bob Weiler, chairman and CEO of Phase Forward, said: “The first quarter was a strong start to the new year, with our top line and profitability results both coming in well above our guidance. During the first quarter, demand was broad-based across our suite of solutions and target markets.
“During the first quarter, we signed our first significant agreements that can be utilized for both electronic data capture (EDC) and our Clarix IRT offerings. We also recently expanded our overall value proposition with the acquisition of Waban Software. Phase Forward continues to outpace other clinical data solution vendors with the addition of integrated IRT and now statistical computing environment and clinical data repository solutions to our industry-leading EDC solution.”