Covance reported earnings for its fourth quarter and full year results. Fourth quarter net revenue increased by 19.8 percent to $411 million; net income increased by 32.9 percent to $50.9 million. Full year net revenue increased by 15.4 percent to $1.5 billion, with annual net income rising 21.3 percent to $175.9 million. Joe Herring, chairman and CEO, said: “Increasing levels of client satisfaction led to strong repeat work resulting in more than $500 million in net orders for the quarter and a 20.6 percent growth in our backlog to $2.7 billion. Performance reflected strong demand for both our early- and late-stage development service offerings.”

DataTrak International, a clinical trial technology suite, announced a new version of its eClinical platform. Jeffrey A. Green, president and CEO, added: “This global market is definitely moving towards an e-clinical set of offerings for clinical trials. Most providers attempt to piece together such a complete set of capabilities by integrating multiple unrelated products. The DataTrak eClinical Platform houses all of these capabilities under one unified database and user interface, eliminating the significant validation and logistical challenges of integration efforts.”

The U.S. military is adding images to its electronic health record system. Here’s the story.

Phase Forward announced financial results. The company continues to grow and execute on a level few competitors can match. Revenues for the quarter hit $38 million, a 25 percent rise over the comparable period in 2006. Revenues for 2007 were up a comparable amount, to $134 million. It added 55 new customers in 2007, not counting those using Phase Forward software via contract research organizations. Order backlog on December 31 was $279 million, a 43 percent jump.  The company expects $165 million in revenues in 2008. And it’s sitting on $183 million in cash. President and CEO Bob Weiler said: “We believe Phase Forward’s proven track record of delivering highly scalable and complex deployments for companies of all sizes serves as a strong motivating factor that influences customers to adopt Phase Forward and has made us a strategic partner of choice.”

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