Make that 6 consecutive quarters of year-over-year revenue growth. BioClinica ($BIOC), a provider of clinical trials software and services, says today that its service revenue and profits jumped in the second quarter this year. And CEO Mark Weinstein says that it's attracting larger players than initially targeted for its clinical trial management system (CTMS).
The Newtown, PA-based company, which has been gobbling up clinical trials software firms over the past three years, said that its quarterly service revenues were $16.9 million, up 8.7% from the same quarter a year ago. And its Non-GAAP net income came in at $1.3 million, a 48.6% year-over-year increase. The firm's stock price edged up nearly 2% to $4.65 per share in early-morning trading.
"We continue to get tremendous traction on our Trident [interactive voice response/interactive web response] product which we released in the fourth quarter of last year," said Weinstein, in a statement. "Since its initial launch we have had 11 new clients involving 24 studies commit to the Trident platform for their IVR/IWR needs. Everyone that is introduced to Trident is very pleased with its unparalleled efficiency and accuracy." The firm has also starting to see its investment in the OnPoint CTMS software bear fruit as it gets large drugmakers and medical device groups, in addition to small- and medium-sized pharma, to take an interest in the product.
Still, the company is staying with its previous guidance for fiscal 2011 service revenue of $66 million to $70 million.
- here's the release
- see Reuters' brief