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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Clinphone | LSE:CNP | London | Ordinary Share | GB00B0ZL4M73 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 134.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:8693L ClinPhone plc 16 January 2008 16 January 2008 LSE : CNP ClinPhone plc Q3 2007 Interim Management Statement ClinPhone plc ("ClinPhone" or the "Company"), the leading provider of technology for clinical trials, today provides an Interim Management Statement for the third quarter (ended 30 November 2007). Highlights * Q3 revenues up 18% y/y on a constant currency basis; reported revenues up 13% * Order book increased by 7% on constant currency basis to £51.3 million * Customer base broadened through 39 new customer wins * Full year 2008 results expected to be materially ahead of management expectations (see Outlook section below) Since the announcement of the Company's interim results on 29 October 2007, ClinPhone has made good progress. The operational restructuring plan implemented following the difficulties encountered in the summer of 2007, has resulted in a material enhancement of the financial performance of the Company. ClinPhone also appointed a Chief Operations Officer in the Quarter ended 30 November 2007 to implement further improvements in the Company's operations. Group Revenues Group revenues for the quarter were up 18% on the quarter ended 30 November 2006 on a constant currency basis. Revenues continue to be significantly impacted by the US$:GBP exchange rate and therefore were up 13% on a reported basis. Order Book Despite the order book being impacted by £4 million of cancellations in the summer of 2007, at constant exchange rates the order book has increased by 7% to £51.3 million (Quarter ended 30 November 2006: £49.1 million). Underlying proposal activity remains strong. Whilst the weakening of the US dollar and a change in business mix has resulted in the average order value being lower than the historic average, the customer base supporting the order book has been strengthened through 39 new customers wins in the quarter. ClinPhone has also won contracts to deliver a number of integrated solutions to customers containing a range of different component products and services. ClinPhone is already a market leader in the provision of integrated solutions for clinical trials and further product developments are being progressed that will increase the value of these solutions to our customers. Live Trials Activity in the quarter saw the Company add a further 51 trials to its systems (Quarter ended 30 November 2006: 62), increasing the average number of live trials to 531 for the quarter (Quarter ended 30 November 2006: 472). Service revenues from the EDC product set, acquired with the DataLabs acquisition in November 2006, continue to grow quickly. Business and delivery operations have been scaled successfully in order to meet this growing demand and to ensure that these services are managed effectively for our clients. Outlook The operational issues that affected the business over the summer have been resolved and ClinPhone is working with the small number of customers that were affected to restore their confidence in the service provided. Despite the lower average order value, the overall volume of new business has been higher than anticipated. Assuming that the US$:GBP exchange rate averages $2.00:£1 for the remainder of the year, results for the financial year ending 29 February 2008 are now expected to be materially ahead of management's expectations. Looking forward towards the following financial year ending 28 February 2009, ClinPhone's order book remains strong. As the customer base has grown and diversified to include a range of smaller clients with shorter duration trials and who are capable of making faster decisions on the use of our products, so the length of the order book has shortened enabling the Company to deliver a higher proportion of the order book in the next financial year. With 70% of the clinical trials market still using paper based systems, demand for clinical technology services is expected to continue to exhibit strong growth. Steve Kent, Chief Executive of ClinPhone, said: "Given the difficulties experienced during the summer, I am particularly pleased with the resilience that the business has shown during the past six months. Whilst the majority of the Company and its core offerings were not impacted, the restructuring plan to address the small number of operational issues that did occur has been successfully implemented more rapidly than we expected at the time of our October statement. The Company has learnt from the experience of last summer, operational improvements have been made and with a number of new development activities in the early stages of deployment showing good promise, ClinPhone enters 2008 in a strong position." Enquiries: ClinPhone plc +44 (0) 115 955 7333 Steve Kent, Chief Executive Officer Scott Brown, Chief Financial Officer Financial Dynamics +44 (0) 20 7831 3113 David Yates Ben Brewerton About ClinPhone ClinPhone plc is a specialist Clinical Technology Organization (CTO) working with the leading global biotech and pharmaceutical organizations. With its corporate headquarters in Nottingham, UK, ClinPhone is the largest and most accomplished CTO with experience in over 1950 clinical trials spanning 88 countries and 71 languages. The company's solutions enable its clients to manage their clinical trials more effectively through the use of technology. Building on its telephone and web-based randomization and medication management expertise, ClinPhone can offer a wide range of innovative products covering all aspects of a clinical trial, including Electronic Patient Reported Outcomes (ePRO), Interactive Voice and Web Response (IVR and IWR), Patient Recruitment Solutions, Electronic Data Capture (EDC) and Clinical Trial Management Software (CTMS). This information is provided by RNS The company news service from the London Stock Exchange END MSCUNABRWORAARR
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