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DATATRAK International, Inc. Reports Third Quarter Results of 2015
DATATRAK International, Inc. Reports Third Quarter Results of 2015.
About this update from Datatrak International, Inc.
[{"type":"text","content":"\nDATATRAK International, Inc. Reports Third Quarter Results of 2015\n\nDATATRAK International, Inc. Reports Third Quarter Results of 2015\n\n\nPosts Highest Quarter of New Contract Sales in Company's History; Sixth Consecutive Quarter of Record Setting Backlog of Over $31 Million\n\nCLEVELAND,OH--(Marketwired - November 11, 2015) - DATATRAK International, Inc. (OTCQX: DTRK), a leader in cloud-based, unified dClinical® technologies and related services for the clinical trials industry, today announced its operating results for the third quarter 2015. Third Quarter Highlights:Signed largest contract in Company history with Top 10 Global Medical Device CompanyQ3 2015 new contract sales increased 13% over prior year period, highest in Company's historyQ3 2015 revenue from Enterprise Agreements increased 13% compared to same period 2014Sixth consecutive quarter of record backlog, ending the third quarter of 2015 at over $31 million, a 21% increase over backlog at December 31, 2014Book-to-bill ratio of 3.05 at September 30, 2015, up from 2.28 at September 30, 2014, reflecting a continuing transition to a longer, more stable revenue stream with more Enterprise Agreements and large platform winsGross profit margin increased to 80% for Q3 2015 Number of active trials increased 88% year-over-year\"Our third quarter performance is evidence of our success in executing against our strategic growth plans, funded through organic operational cash flows and NOT through the use of debt or dilutive equity raises. This team is putting in the sweat equity to drive growth AND preserve shareholder value,\" stated Laurence P. Birch, DATATRAK'S Chairman and CEO. \"We appreciate the patience and support of our many long-term shareholders as we continue to capitalize on these growth opportunities and see the Company's strategic transition through to fruition. We are also thankful as well for our dedicated employees who execute against the strategy every day.\"\"As we've stated previously, we are starting to see the shift in our revenue model as a longer term, repeatable revenue base takes a larger foothold -- this quarter we started to see an increase in the revenue from enterprise agreements,\" continued Birch. \"The recently announced contract with a Top 10 Global Medical Device organization led the charge in our achievement of the largest quarter...