Earnings Call Excerpt
etrials Worldwide Inc. (ETWC)
Q4 2008 Earnings Call
March 5, 2009 4:30 pm ET
Executives
Dennis Connaghan - Chief Executive Officer and President
Joseph F. Trepanier, III - Chief Financial Officer
Chris Sakell - Director of Marketing
Michael Mickens - Vice President of Sales and Client Services
Analysts
Steven Silk - C. Silk and Sons, Inc.
Presentation
Operator
Welcome to the etrials Worldwide Incorporated fourth quarter and yearend conference call. At this time, all participants are in a listen-only mode. Following management's prepared remarks, we will hold a question-and-answer session. (Operator's instruction) As a reminder, this conference is being recorded today, March 5, 2009 and a replay will be available on the Company's website. I would now like to turn the conference over to Chris Sakell, etrials' Director of Marketing. Please go ahead sir.
Chris Sakell
Thank you. Good afternoon and welcome to the fourth quarter and yearend earnings conference call for etrials Worldwide. With us delivering prepared remarks are Dennis Connaghan, President and Chief Executive Officer and J. Trepanier, Chief Financial Officer. Additionally, Vice President of Sales and Client Services Michael Mickens is in attendance.
Before starting today's call, I would like to remind everyone that some of the comments made today will be forward looking and are made under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected or implied due to a variety of factors.
For a more detailed discussion of the risks that could impact the Company's future operating results and financial conditions, we refer all of you to etrials’ recent filings with the Securities and Exchange Commission including the risk factor section of the Company's upcoming Form 10-K as well as the earnings press release.
With that, I will turn it over to CEO of etrials Worldwide, Dennis Connaghan. Dennis?
Dennis Connaghan
Thanks Chris and thank you for joining us on the call to review our fourth quarter and yearend results. I will begin the call by saying that while fourth quarter performance was reassuring in terms of new project bookings, backlog, shop reduction and operating expenses, overall results for 2008 were mixed with revenue being a disappointment.
With that said, we regard etrials' performance in the fourth quarter to be an encouraging finish to a challenging year of operational investments and transitions in leadership and strategic focus. During 2008, etrials invested in the business in order to enhance technologies, optimize our processes and as a result, more consistently deliver quality and excellence through our customers on the strength of the Company's balance sheet and cash positions.
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