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Ventiv Health, Inc. Reports Financial Results for Fourth Quarter 2001; * Revenues hold at $106 million, with continued emphasis on biotech and emerging pharma companies * Signed contract with Allergan * Working capital needs secured * Non-binding letter of intent signed for sale of Connecticut communications business.

Publication: PR Newswire
Publication Date: 27-FEB-02 		Format: Online - approximately 1934 words
Delivery: Immediate Online Access

Article Excerpt
SOMERSET, N.J. -- Ventiv Health, Inc , a leading provider of comprehensive marketing and sales solutions to the pharmaceutical and life sciences industries, today announced financial results for the fourth quarter of 2001. Results discussed below exclude Ventiv's Connecticut-based communications business, which is now being treated as a discontinued operation, a charge relating to an equity investment in a non-affiliate and restructuring charges from previous quarters.



* Total revenues for the fourth quarter of 2001 were $105.8 million, compared to $107.2 million for the fourth quarter of 2000. * EBITDA, or earnings before interest, taxes, depreciation and amortization, was $4.5 million, versus $21.6 million for the fourth quarter of 2000. * EBIT, or earnings before interest and taxes, was $0.2 million, compared to $17.5 million for the fourth quarter of last year. * Pro forma diluted earnings (losses) per share were ($0.06), compared with $0.33 for the fourth quarter last year. * Reported diluted earnings (losses) per share were ($0.09), compared with $0.30 for the fourth quarter last year.

Results for the fourth quarter of 2000 include approximately $2.5 million of revenue and operating income related to the BMS startup. Results for the fourth quarter of 2001 include approximately $6.1 million of expense reserve on a major contract that commenced in 2001.

Revenues during the fourth quarter decreased from the fourth quarter in 2000 at Ventiv Health U.S. Sales, offset by increased revenues generated at Health Products Research and Ventiv Health European Sales.

* Revenues for Ventiv Health U.S. Sales were $71.3 million, versus $73.6 million during the fourth quarter of 2000. This change was primarily due to the...

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