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Clinical Development Services revenue was $279.7 million in the quarter (+11%) and income from operations was $46.5 million, up from $27.0 million in 1Q10.
April 27, 2011
By: Tim Wright
Editor-in-Chief, Contract Pharma
PPD 1Q11 1Q Revenues: $346.8 million (-9%) 1Q Earnings: $17.2 million (-54%) Comments: Clinical Development Services revenue was $279.7 million in the quarter (+11%) and income from operations was $46.5 million, up from $27.0 million in 1Q10. Laboratory Services revenue was $76.5 million (+3%). Income from operations for this segment was $6.0 million, down from $9.5 million in 1Q10. Gross authorizations for the quarter totaled $639.5 million. Backlog at March 31, 2011, was $3.6 billion. Contract cancellations and adjustments were $174.1 million in the quarter.
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