Bio-Imaging Technologies sees double-digit net gains in Q3

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Bio-Imaging Technologies has reported its 2008 third-quarter financial results, which ended Sept. 30, and included the operating results of Phoenix Data Systems (PDS) as a result of the PDS acquisition that was completed March 24.

The company booked net income of $1.1 million for third quarter fiscal 2008, as compared to $647,000 for the third quarter fiscal 2007—an increase of 66.2 percent.  

Service revenues increased 57.9 percent to $15.1 million for the third quarter fiscal 2008, as compared to $9.6 million for the same period in fiscal 2007, according to the Newton, Pa.-based company. The third quarter 2008 service revenue includes $4 million attributable to PDS.

Bio-Imaging posted an operating income increased 78 percent to $1.6 million for the 2008 third quarter fiscal, as compared to operating income of $888,000 for the third quarter fiscal 2007.