OmniComm Systems, Inc. Announces First Quarter 2006 Results
By Market Wire
Last Update: 4/4/2006 12:14:22 PM Data provided by
FT. LAUDERDALE, FL, Apr 04, 2006 (MARKET WIRE via COMTEX) -- OmniComm System, Inc. (OMCM), one of the fastest growing companies in the EDC marketplace, today announced record quarterly contracts. The Company reported that it had signed new contracts totaling approximately $2.2 million during the first quarter of 2006 compared with new contracts signed in the first quarter of 2005 of $702 thousand, an increase of approximately 213%. The Company signed contracts for 13 new clinical trials during the quarter including relationships with five new clients.
"During the last 18 months, we have focused on building a world-class business-development function and this quarter's results affirm the fact that our efforts have been successful," said Rusty Beardsley, OmniComm's Executive Vice President of Commercial Development. "Our results during the first quarter validate the fact that OmniComm has become an important provider of EDC services. We continue to provide excellent service, technology and clinical support to our existing clients and the five new relationships added during the quarter are an indicator of the progress we are making with our business development efforts. We are confident that our sales and marketing efforts will allow us to continue increasing the number of clients using TrialMaster."
"Last year we developed the foundation and infrastructure to become a major competitor in the EDC industry. This is the largest number of contracts we have signed in one quarter. We are particularly pleased with the fact that we added five new clients to our growing list of clinical trial partners. We believe that the combination of growth through existing relationships and new business will allow us to continue our rapid growth. One of our primary goals for fiscal 2006 was to increase our contract volume by at least 100% over fiscal 2005 and we are excited at the results we achieved during this quarter," said Cornelis Wit, President and CEO of OmniComm. "We believe our efforts at strengthening our client support and customer service will allow us to service our clients' needs, while maintaining robust gross margins."
About OmniComm Systems, Inc.
OmniComm Systems, Inc. (
www.omnicomm.com) is one of the fastest growing companies in the EDC market place targeting its product TrialMaster(R) to the pharmaceutical, medical device and biotechnology companies as well as CROs. OmniComm's growing base of satisfied customers is a direct result of OmniComm's employee's commitment to on-time, quality and within budget performance.
The TrialMaster (
www.trialmaster.com) system, the core product of OmniComm, provides trial sponsors with a 21 CRF Part 11 compliant Internet-based data and trial management solution that greatly increases the efficiency, security and integrity of clinical research data and thus significantly reduces the time and expense involved in conducting clinical studies.
Safe Harbor Disclaimer
Statements about OmniComm's future expectations, including without limitation, future revenues and earnings, plans and objectives for the future operations, future agreements, future economic performance, operations and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. OmniComm intends that such forward-looking statements be subject to the Safe Harbors created thereby. Since these statements involve risks and uncertainties, including but not limited to economic competitive, governmental, contractual and technological factors affecting OmniComm's operations, markets and profitability, actual results could differ materially and adversely from the expected results.
SOURCE: OmniComm Systems, Inc.
