BioClinica CEO Mark Weinstein aims to sail to a year of growth in 2012, charting a course for the company last week while announcing fourth-quarter 2011 results. And the provider of clinical trials software and imaging services is eyeing new tech to broaden the reach of its offerings.
The Newtown, PA-based company ($BIOC) announced Feb. 9 that its fourth-quarter service revenue shot up from $16.5 million to $18.3 million, and Weinstein stated that further adoption of the company's clinical trials software would pave the way for growth in service revenue in 2012. Its GAAP profit for the quarter was $1.8 million, up from $1.2 million in the same period in 2010. Non-GAAP profit was moved up from $1.2 million to $1.5 million, the company announced.
"Our backlog of $123.1 million is a record and with our compelling suite of products and services, we are very optimistic about the future," Weinstein said in a statement. "We expect our full-year 2012 service revenue to be in the range of $73 to $77 million, our full-year GAAP EPS to be in the range of $0.26 to $0.32 per fully diluted share, and our full-year non-GAAP EPS to be in the range of $0.36 to $0.42 per fully diluted share."
BioClinica has been among a handful of tech companies that have been buying up clinical trials software assets and outfits in recent years, making it one of the groups to watch (along with Medidata, Oracle and Parexel) as drugmakers and CROs expand use of IT in developing new products. And according to Outsourcing-Pharma, Weinstein said during an investor conference last week that his company has an interest in beefing up its software offering with patient reported outcomes (PRO) and clinical trial safety tech.
- here's BioClinica's release
- and the report from Outsourcing-Pharma