Kendle reports second-quarter revenue up at $81.9 million

By Lisa Kerner

Charlotte, N.C., July 27 - Kendle International Inc. reported total revenue for the second quarter 2006 of $81.9 million, up from $61.1 million for the prior year period.

The company reported income from operations for the quarter of $6.4 million, an increase from $3.7 million in second quarter of 2005.

Net income for the quarter was $4.3 million, or $0.29 per diluted share, an increase from net income of $1.4 million, or $0.10 per share, in second-quarter 2005.

Cash flow from operations for the quarter was positive $4.4 million, while cash and marketable securities totaled $50.1 million.

For the six-month period ending June 30, Kendle had total revenue of $159.1 million, up from $119.7 million for the first half of 2005.

Income from operations for the six months ended June 30 was $13.7 million, up from $6.5 million for the same period in 2005.

Net income was $9.2 million, or $0.62 per diluted share, for the six-month period, up from $3.5 million, or $0.26 per diluted share, in the prior year period.

Cash flow from operations for the first six months of 2006 was positive $7.4 million.

Kendle is a clinical research organization based in Cincinnati.

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