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Dendrite reports strong fourth quarter results and dramatic full-year EPS growth.

Publication: M2 Presswire
Publication Date: 31-JAN-03 		Format: Online - approximately 1308 words
Delivery: Immediate Online Access

Article Excerpt
M2 PRESSWIRE-31 January 2003-DENDRITE: Dendrite reports strong fourth quarter results and dramatic full-year EPS growth(C)1994-2003 M2 COMMUNICATIONS LTD

RDATE:01312003

London -- Dendrite International, Inc. (NASDAQ:DRTE) has reported strong results for the fourth quarter 2002, with revenue exceeding Company outlook and profit within the expected range.

Fourth Quarter Results

Revenue of $57.0 million was up 6% over third quarter 2002, surpassing the Company's outlook. Net income for the fourth quarter of 2002 was $4.7 million or $0.12 per diluted share. This compares to prior year fourth quarter net income of $7.3 million or $0.18 per diluted share excluding non-recurring charges and prior year fourth quarter net income of $3.2 million or $0.08 per diluted share, including non-recurring charges. Dendrite recorded approximately $100,000 of non-recurring favourable adjustments to its P&L in the fourth quarter of 2002. After taxes, these adjustments had no impact on EPS. Discussion of the fourth quarter 2002 results is net of these adjustments.

"Revenue exceeded our expectations driven by very broad success in SFA, home office solutions and analytics," said Dendrite Chairman and Chief Executive Officer John Bailye.

"We are also encouraged by the fact that our margins have returned to fourth quarter...

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