etrials worldwide (Nasdaq: ETWC), a provider of software and services for clinical trials, landed contracts for $24.9 million in business in 2008, an 11 percent jump over 2007. However, the company’s financial losses increased due in part to corporate restructuring and changes in its management team.
Entering 2009, etrials reported a backlog of $25.1 million, a nearly $6 million increase from the same period in 2007.
"etrials’ fourth quarter performance was reassuring in terms of new project bookings, backlog and a sharp reduction in operating expenses, however, overall results for 2008 were mixed, with revenue being a disappointment,” said M. Denis Connaghan, etrials’ chief executive officer, in a statement.
