Kendle International Reports EPS of $0.03 vs. $0.02; Revenue $77.9M vs. $79.87M

Kendle KNDL today reported new business awards of $152.1 million for the fourth quarter of 2010 versus $134.7 million for the fourth quarter of 2009. Gross book-to-bill improved 25 percent sequentially from the third quarter of 2010 to 2.0 in the fourth quarter. On a non-GAAP basis, excluding the restructuring and goodwill impairment charges, net income for the fourth quarter was $391,000 or $0.03 per diluted share compared with net income of $5.0 million or $0.34 per diluted share for the same period last year. Net service revenues for the quarter ended Dec. 31, 2010, totaled $77.9 million compared with $96.6 million for the same period a year ago. The top five customers based on net service revenues accounted for 32.4 percent of total revenues versus 26.3 percent in the fourth quarter of 2009.