London, United Kingdom – (The Hosting News) – September 1, 2006 – Web host and data management solutions firm, Phase Forward, will present at the Thomas Weisel Partners Healthcare Conference at the Four Seasons Hotel in Boston, Massachusetts. The live webcase will feature Chief Executive Officer and President, Bob Weiler, and Chief Financial Officer, Rodger Weismann, on Friday, September 8, 2006, at 9:10 a.m. Eastern Time.
Recently, Phase Forward reported that revenues for the second quarter of 2006 were $24.7 million, a 19% increase from $20.7 million in the second quarter of 2005. Within total revenue, InForm license, application hosting and other related revenues were $16.3 million, an increase of 19% from $13.7 million in the prior year period.
Bob Weiler, Chief Executive Officer and President commented, ”We are very pleased with the company’s performance in the second quarter. We are encouraged with the pace of new business activity, in addition to the diversity of our business across market segments and customer sizes as demonstrated by orders from a wide range of customers in the quarter. This included our selection by another top 25 pharmaceutical company, who signed a multi-year commitment to use InForm on an application service provider basis, in another highly competitive, enterprise-type EDC engagement.”
For the second quarter of 2006, GAAP income from operations was $1.6 million, compared to $2.0 million in the second quarter of 2005. GAAP net income was $1.9 million, or $0.05 per diluted share, for the second quarter of 2006, compared to $1.8 million and $0.05 per diluted share reported in the second quarter of 2005.
Weiler added, ”Phase Forward’s product and services leadership position, combined with our proven track record with the industry’s most scalable and complex implementations, positions us well as customers seek a single vendor to automate their EDC and safety processes in an integrated fashion.”
For the third quarter of 2006, the company expects revenues to be between $26.8 and $27.6 million. The company expects non-GAAP operating income to be between $3.4 and $3.9 million, with non-GAAP EPS between $0.09 and $0.10. GAAP EPS is expected to be between $0.06 and $0.07, including non-cash expenses associated with FAS 123R and the amortization of intangible assets.
For the full year 2006, the company expects bookings to be between $115 million and $125 million and revenues to be between $103 million and $105 million. On a non-GAAP basis, operating income is expected to be between $12 million and $13 million and non-GAAP EPS between $0.34 and $0.36. GAAP EPS is expected to be between $0.23 and $0.25, including non-cash expenses associated with FAS 123R and the amortization of intangible assets.
Phase Forward is a provider of integrated data management solutions for clinical trials and drug safety. The company offers solutions for electronic data capture (InForm), clinical data management (Clintrial), clinical trials signal detection (CTSD), strategic pharmacovigilance (WebVDME) and Signal Management), adverse event reporting (Clintrace) and applied data standards (WebSDM). In addition, the company provides services in the areas of application implementation, hosting and validation, data integration, business process optimization, safety data management and industry standards.
Phase Forward’s products and services have been utilized in over 10,000 clinical trials involving more than 1,000,000 clinical trial study participants at over 230 organizations and regulatory agencies worldwide including: AstraZeneca, Biogen Idec, Boston Scientific, Dana-Farber Cancer Institute, Eli Lilly, Food and Drug Administration, GlaxoSmithKline, Guidant, Merck, U.K. Medicines and Healthcare Products Regulatory Agency, National Institutes of Health, Procter and Gamble, Quintiles, sanofi-aventis, Schering-Plough Research Institute and Serono.
To learn more, please visit: www.phaseforward.com.