Kendle Q3 revenues fall

CEO Candace Kendle cites sequential improvement in net sales

Kendle has posted a net income of $1.55m for the third quarter 2010, or $0.1 per diluted share, compared to net income of $8.83m, or $0.59 per diluted share, for the comparable period in 2009.

Income from operations was $5.61m, compared to $15.53m for the comparable period in 2009.

Kendle has posted a revenue of $340.37m for the nine months ended 30 September 2010, compared to $420.98m for the year ago period.

For the nine months ended 30 September 2010, Kendle's net income was $4.62m, or $0.31 per diluted share, compared to $12.91m, or $0.86 per diluted share, for the year ago period.

Income from operations was $10.54m, compared to $30.65m for the year ago period.

Kendle chairman and CEO Candace Kendle said that for the second consecutive quarter, they have experienced a sequential improvement in net sales, due in part to the investments they have made this year in their worldwide sales organisation and the continued confidence their customers have in Kendle as their drug development partner.

"We continue to expand our relationships with our existing customers while leveraging these experiences to partner with new customers, all of which should serve to drive increased sales and improved top-line performance," Kendle said.

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