A refocused business strategy seems to have helped Datatrak International get back on track. The technology and services company, which helps clients streamline the clinical trials process, enjoyed a cash increase in third quarter 2010 over the previous quarter. Laurence Birch, chairman and CEO of the company, says that the $1.8 million in revenue and $11.4 million backlog are due in part to Datatrak's recent investment in additional resources. These included hiring a vice president of marketing and a vice president of clinical and consulting services.

"Execution of our current business strategy is proving successful, as evidenced by our continued profitability, increasing backlog and positive cash flows," Birch says. "Datatrak's solid third quarter results are a direct indicator of the company's re-emergence in the marketplace."

Revenue for third quarter 2010 increased 17 percent over the same quarter last year. For the three months ending September 30, 2010, Datatrak's income from operations was $53,000 compared to a loss from operations in the third quarter of the prior year. Datatrak also announced that it had no non-operating debt.

Datatrak's portfolio of software products is designed to accelerate the reporting of clinical research data from sites to sites to sponsors and ultimately regulatory authorities. The company is headquartered in Mayfield Heights and has representatives in Bryan, Texas, and Bonn, Germany.

SOURCE: Datatrak International
WRITER: Diane DiPiero