VTIV Had a good upgap this morning after it reported earnings yesterday.<g>
bigcharts.marketwatch.com
Ventiv Health, Inc. Reports Financial Results For Fourth Quarter and Full Year 2003
Thursday March 4, 4:15 pm ET
* Quarterly revenues up 51% to $75.3 million
* Quarterly earnings per share from continuing operations up 186% from $0.07 to $0.20, driven by operating leverage on higher revenues
* Deployment completed of 200-rep sales force expansion for Bayer
* 2004 new business wins to-date totaling 365 reps with 10 clients, including Synthon
* Year-end cash balance of $57 million; $11.8 million cash from operations for full year
SOMERSET, N.J., March 4 /PRNewswire-FirstCall/ -- Ventiv Health, Inc. (Nasdaq: VTIV - News), a leading provider of comprehensive marketing and sales solutions to the pharmaceutical and life sciences industries, today announced financial results for the fourth quarter and full year of 2003.
Results discussed below exclude Ventiv's discontinued Communications and European Contract Sales businesses and a gain on the sale of real estate in Ventiv's Sales & Marketing business.
Quarterly Results:
Total revenues for the fourth quarter of 2003 were $75.3 million,compared to $49.9 million for the fourth quarter of 2002.
Earnings from continuing operations before income taxes were $7.9 million, compared to $2.5 million for the fourth quarter of 2002.
Net earnings from continuing operations were $5.0 million, compared to $1.5 million for the fourth quarter of 2002.
Diluted earnings per share from continuing operations were $0.20,compared to $0.07 for the fourth quarter of 2002.
Full-Year Results:
Total revenues for 2003 were $224.5 million, compared to $215.4 million for 2002.
Earnings from continuing operations before tax were $15.4 million,compared to $8.0 million for 2002.
Net earnings from continuing operations were $9.6 million, compared to $4.9 million for 2002.
Diluted earnings per share from continuing operations were $0.41,compared to $0.22 for 2002.
Snip
Cash generation: Ventiv generated $11.8 million of cash from operations during the year, ending the year with $57 million of cash and no debt.
To see the full report:
biz.yahoo.com |
