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news.PPD, a contract research organisation, has reported revenues of $365.38m for the third quarter ended 30 September 2010, an increase of 7.3%, compared to $340.4m for the same period in 2009.
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PPD posted a net income of $38m for the third quarter 2010, or $0.33 per diluted share, compared to $37.67m, or $0.34 per diluted share, for the comparable period in 2009.
Operating income for the third quarter was $56.84, compared to $51.63m for the comparable period in 2009.
For the nine months ended 30 September 2010, PPD posted a revenue of $1.08bn, compared to $1.06bn for the year ago period.
Operating income for the nine months ended 30 September 2010 was $124.6m, compared to $176.48m for the year ago period.
PPD has generated net income of $76.18m, or $0.67 per diluted share for the nine months ended 30 September 2010, compared to $140.3m, or $1.07 per diluted share, for the year ago period.
PPD CEO David Grange said that gross authorisations continued to be strong, and operating margin expanded significantly on a sequential basis due to improved performance in emerging markets and their focus on overall company spending.
PPD executive chairman Fred Eshelman said that they believe the demand for PPD’s clinical development and laboratory services continues to be strong, and they will continue to focus on quality and performance to create sustained shareholder value.