A 9 percent gain in fourth-quarter profit helped push InVentiv Health Inc.’s annual income up nearly 17 percent.
Somerset, N.J.-based InVentiv, which employs 400 at its communications division in Westerville, said for the three months ended Dec. 31 it earned $9.8 million, or 32 cents a share. During 2005’s fourth quarter, it earned $9 million, or 31 cents a share.
Revenue grew 22 percent to $170.3 million, from $139.7 million in the same three months of 2005.
Profit for the year stood at $51.2 million, or $1.70 a share, up from $43.7 million, or $1.56 a share, at the end of 2005.
InVentiv’s revenue was 35.2 percent ahead of 2005 at $631.6 million, compared with $467 million.
The gain was helped by InVentiv’s October 2005 acquisition of Westerville-based InChord Communications Inc., which last year was renamed InVentiv Communications. The division reported $257 million in revenue, 40.7 percent of the company’s 2006 total.
InVentiv (NASDAQ:VTIV) also operates InVentiv Commercial, which helps health-care companies launch new products, in Somerset, N.J., and Houston-based InVentiv Clinical, which provides outsourced staffing and other services for clients with drugs and products in clinical trials.
Source: www.bizjournals.com
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