DATATRAK International, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017
March 21, 2018 at 12:29 pm EDT
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DATATRAK International, Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. The company had operating income of $336,000 for the fourth quarter of 2017 compared to $186,000 for the fourth quarter of 2016. Net income for the fourth quarter of 2017 was $471,000, which included $135,000 of income tax benefit due to alternative minimum tax credits being made refundable under the Tax Cuts and Jobs Act of 2017, compared to $160,000 for the fourth quarter of 2016. The company's revenue decreased by $119,000 to $1,928,000 for the three months ended December 31, 2017 compared to $2,047,000 for the three months ended December 31, 2016. The sales volume in 2016 and 2017 did not support previous levels of revenue, leading to the decrease seen year-to-date. However, the Company did see an increase in revenue from the previous quarter. Net income before tax provision was $336,097 against $161,452 a year ago. Net income per share, diluted was $0.20 against $0.09 a year ago.
DATATRAK's full year revenue for 2017 was $7,524,000 compared to $8,983,000 for the full year of 2016. Operating income and net income for 2017 totaled $210,000 and $218,000, respectively, compared to operating income of $1,083,000 and net income of $1,017,000 for 2016. Net income before tax provision was $83,132 against $1,029,429 a year ago. Net income per share, diluted was $0.11 against $0.55 a year ago.
Datatrak International, Inc. is a technology and services company. The Company is engaged in delivering global eClinical solutions for the clinical trials industry. The Company is focused on providing subscription and professional services. Its enterprise platforms include Decentralized Trials (including, electronic consent (e-Consent), electronic patient reported outcomes (e-PRO) and electronic clinical outcomes assessment (e-COA), electronic data capture, clinical trial management system (CTMS) and imaging and endpoint adjudication, randomization, and business intelligence. The Companyâs CTMS includes functions for site feasibility and the tracking of action items and milestones. Its imaging and endpoint adjudication is a streamline the approach for managing imaging components while reducing manual workload and errors. Its business intelligence offers solution to create, monitor, and analyze user research and providing insights that allow to optimize processes from all aspects.