To: Gurupup who wrote (52 ) 5/14/1998 8:44:00 PM From: JanyBlueEyes Read Replies (1) | Respond to
WAYNE, Pa., May 14 /PRNewswire/ -- Covalent Group, Inc. (NASDAQ:CVGR) today announced results for the first quarter of 1998. Covalent reported revenues of $2,240,000 and a net loss of $266,000 or $.02 per share (basic and diluted). These financial results are down in comparison to revenues of $3,046,000 and net income of $99,000 or $.01 per share (basic and diluted) for the first quarter of last year.we have bolstered our sales efforts and now have bids pending with current and prospective customers for large, multi-year studies. We expect closure on these proposals in the near future and anticipate a very high success rate in securing this business ."the first quarter was a low water mark for the Company and expect better performance in the future</b. The business we anticipate winning plus other opportunities, while not fully assuring achievement of our 1998 sales plan, give us confidence we are proceeding in the right direction and building an underlying base of business for the future."
