Kendle has joined the ranks of US-based contract research organisations (CROs) moderating their financial guidance for 2008 in the face of a contracting global economy.
The company has lowered its expectations for net service revenues in the full year from US$485-500 million to US$475-480 million, mainly due to the strengthening US dollar. Earnings per diluted share are now forecast in the range of US$2.12 to US$2.20 compared with the previous guidance of US$2.10-US$2.25.
Kendle also said it expects to report a net book-to-bill ratio of around 1.3 to 1 for the fourth quarter of 2008, amid “challenges across the industry resulting in a softening RFP [request for proposal] flow”.
The CRO is scheduled to issue its results for the fourth quarter and year ended 31 December 2008 on 25 February.
