Bio Imaging Technologies Inc (822418) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2007

Bioclinica Inc

CIK: 822418

Exhibit 99.1
  Company Contact:
  Mark L. Weinstein, President & CEO
  Ted I. Kaminer, CFO
Tel: (267) 757-3000

Porter, LeVay & Rose, Inc.
Linda Decker, VP — Investor Relations
Tel: (212) 564-4700
EPS of $0.06 per share in Q4 2007; Record backlog of $92.5 Million
NEWTOWN, PA, February 13, 2008
— Bio-Imaging Technologies, Inc. (“Bio-Imaging”) (NASDAQ: BITI) today announced its financial results for the quarter and year ended December 31, 2007.
Financial highlights for the fourth quarter and year ended December 31, 2007 include:
  Service revenues increased 20% to $10.4 million for fourth quarter 2007 as compared to $8.7 million for the same period in 2006. Full year 2007 service revenues increased 19% to $38.2 million, as compared to $32.1 million in full year 2006.
  Operating income increased 31% in fourth quarter 2007 to $1,126,000 as compared to operating income of $861,000 for fourth quarter 2006. Full year 2007 operating income was $3,190,000 compared to operating income of $1,115,000 for 2006.
  Net income increased 30% to $797,000 for fourth quarter fiscal 2007, or $0.06 per fully diluted share, versus net income of $613,000, or $0.05 per fully diluted share, in the fourth quarter of 2006. For the full year 2007, net income was $2,333,000, or $0.18 per fully diluted share, versus net income for full year 2006 of $1,004,000, or $0.08 per fully diluted share.
 Backlog increased 23% to $92.5 million, as of December 31, 2007, as compared to $75.2 million as of December 31, 2006.
Mark L. Weinstein, President and Chief Executive Officer of Bio-Imaging, said, “We are very pleased with our operating results for 2007. Full year 2007 service revenues of $38.2 million exceeded our guidance of $37 — $38 million and full year 2007 fully diluted earnings per share of $0.18 exceeded our guidance of $0.15 to $0.17. Fourth quarter 2007 service revenues of $10.4 million represented an 8% sequential quarter over quarter increase and the increased profitability on these revenues is a testament to our leverageable expense base that generally provides increasing margins as we grow our revenues.”
Mr. Weinstein continued, “Through the completion and integration of the Theralys acquisition we have solidified our strong service offering in the CNS and neurovascular areas and added these therapeutic capabilities to our traditional core strengths in the oncology, musculoskeletal and cardiovascular areas.”
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The following information was filed by Bioclinica Inc on Wednesday, February 13, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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SEC Filing Tools
CIK: 822418
Form Type: 10-K Annual Report
Accession Number: 0000893220-08-000626
Submitted to the SEC: Wed Mar 05 2008 5:16:47 PM EST
Accepted by the SEC: Wed Mar 05 2008
Period: Monday, December 31, 2007
Industry: Testing Laboratories

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