DATATRAK International, Inc. Announces Year-End Backlog
January 13 2010 - 7:30AM
PR Newswire (US)
Second Consecutive Quarter-Over-Quarter Increase In Backlog
CLEVELAND, Jan. 13 /PRNewswire-FirstCall/ -- DATATRAK
International, Inc. (OTCQX: DATA), a technology and services
company focused on global eClinical solutions for the clinical
trials industry, today reported its year-end backlog as of December
31, 2009. At December 31, 2009, backlog was $9,487,000 compared to
$8,891,000 at September 30, 2009, a 7% increase. The December 31,
2009 backlog amount of $9,487,000 represents the second consecutive
quarter-over-quarter increase in backlog. "I think our DATATRAK
ONE(TM) vision of a unified technology solution has really taken
hold with drug trial sponsors and Contract Research Organizations
(CROs) and is evident by the increase in backlog," stated Laurence
Birch, Chairman of the Board of DATATRAK International, Inc. "A lot
of our competitors market the interoperability of their product
offerings, which by definition means the capability of two or more
software routines to work harmoniously together. While this might
be true, it means extra work, additional cost and ultimately a
heightened risk for compromised data. Our clients, unlike our
competitors' clients, don't have to worry about interoperability
issues such as database reconciliation, stale data vs. real-time
data, multiple user names and passwords and undertaking additional
validation efforts. Our unified solution has been built entirely on
one platform with no required linkage to external systems or
scheduled routines." About DATATRAK International, Inc. DATATRAK
International, Inc. is a worldwide technology and services company
focused on the provision of multi-component eClinical solutions and
related services for the clinical trials industry. We operate under
the vision of DATATRAK ONE(TM), which encompasses our unique,
single platform technology. The singular architecture of our
DATATRAK eClinical(TM) product suite has been embraced by clients
around the globe for its ability to effectively manage clinical
trials through a unified multi-component, comprehensive solution.
The Company delivers a complete portfolio of software products that
were created in order to accelerate clinical research data from
investigative sites to clinical trial sponsors and ultimately the
FDA, faster and more efficiently than manual methods or loosely
integrated technologies. DATATRAK's eClinical(TM) software suite
can be deployed worldwide through an ASP offering or in a licensed
Enterprise Transfer model that fully empowers its clients. The
DATATRAK software suite and its earlier versions have successfully
supported hundreds of international clinical trials involving
thousands of clinical research sites and encompassing tens of
thousands of patients in 59 countries. DATATRAK International,
Inc.'s product suite has been utilized in some aspect of the
clinical development of 16 drugs and one medical device that have
received regulatory approval from either the United States Food and
Drug Administration or counterpart European bodies. DATATRAK
International, Inc. has offices located in Cleveland, Ohio, and
Bryan, Texas. Visit the DATATRAK International, Inc. web site at
http://www.datatrak.net/. Except for the historical information
contained in this press release, the statements made in this
release are forward-looking statements. These forward-looking
statements are made based on management's expectations,
assumptions, estimates and current beliefs concerning the
operations, future results and prospects of the Company and are
subject to uncertainties and factors (including those specified
below) which are difficult to predict and, in many instances, are
beyond the control of the Company. Factors that may cause actual
results to differ materially from those in the forward-looking
statements include the limited operating history on which the
Company's performance can be evaluated; the ability of the Company
to continue to enhance its software products to meet customer and
market needs; fluctuations in the Company's quarterly results; the
viability of the Company's business strategy and its early stage of
development; the timing of clinical trial sponsor decisions to
conduct new clinical trials or cancel or delay ongoing trials; the
Company's dependence on major customers; government regulation
associated with clinical trials and the approval of new drugs; the
ability of the Company to compete in the emerging EDC market;
losses that potentially could be incurred from breaches of
contracts or loss of customer data; the inability to protect
intellectual property rights or the infringement upon other's
intellectual property rights; the costs associated with maintaining
and/or developing two product suites; and general economic
conditions such as the rate of employment, inflation, interest
rates and the condition of capital markets. This list of factors is
not all-inclusive. In addition, the Company's success depends on
the outcome of various strategic initiatives it has undertaken, all
of which are based on assumptions made by the Company concerning
trends in the clinical research market and the health care
industry. The Company undertakes no obligation to update publicly
or revise any forward-looking statement whether as a result of new
information, future events or otherwise. DATASOURCE: DATATRAK
International, Inc. CONTACT: Raymond J. Merk, Chief Financial
Officer and Chief Operating Officer, DATATRAK International, Inc.,
+1-440-443-0082, x181 Web Site: http://www.datatrak.net/
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