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Service revenues are down, but new business awards jumped from 1Q10.
August 5, 2010
By: Tim Wright
Editor-in-Chief, Contract Pharma
Kendle 2Q10 2Q Service Revenues*: $82.4 million (-23%) 2Q Earnings: $1.9 million (-40%) YTD Service Revenues*: $173 million (-20%) YTD Earnings: $3.1 million (-24%) Comments: Kendle’s top five customers based on net service revenues accounted for 25% of total revenues versus 28% in 2Q09. New business awards for the 2Q10 were $131.5 million, up 48% from 1Q10. Contract cancellations and other adjustments added up to $30.9 million, 4% of the company’s backlog, so net book...
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