WALTHAM, Mass.--(BUSINESS WIRE)--Jul. 30, 2009--
Phase Forward (NASDAQ: PFWD), a leading provider of data management
solutions for clinical trials and drug safety, is included in the
FORTUNE Small Business 100 list for the second consecutive year, ranking
20th among America’s fastest-growing small public companies.
Up from 38th last year, the company is also the top-ranked
company in the state of Mass. and seventh among the 30 technology
companies featured.
To compile the ninth annual list, FORTUNE Small Business asked financial
research firm Zacks to screen annual reports for public companies with
annual revenue of less than $200 million and a stock price of more than
$1. Within that group, companies were ranked based on the past three
years’ earnings growth, revenue growth and stock performance. The list
appears in the July/August issue of FORTUNE
Small Business.
“We’re pleased to be recognized by FORTUNE Small Business for the second
year, which is a real testament to the caliber and commitment of our
employees,” said Bob Weiler, Chairman and CEO, Phase Forward. “This past
year has been an incredibly important year for us and we’ve worked hard
to further expand our product lines to offer our customers a
comprehensive, end-to-end approach to clinical trial data and safety
management.”
Phase Forward closed 2008 with record revenues of $170.2 million, up 27
percent from 2007, and announced a 22 percent increase in GAAP revenues
for the second quarter of 2009 over the same quarter last year.
About FORTUNE Small Business
FORTUNE Small Business is the premier magazine for – and about – small
business owners, with the largest audience and rate base in the small
business category. Through a partnership with American Express, FSB is
distributed 10 times a year and reaches 1 million owners and partners of
leading small businesses. With unmatched resources and access to the
industry’s most innovative thinkers, FSB delivers best practices,
connects small business owners to a community of their peers and arms
them with the inspiration and actionable advice they need to succeed.
FSB, along with FORTUNE, Money, and the Website CNNMoney.com, is part of
The Fortune|Money Group. Time Inc. is a division of Time Warner, a
leading media and entertainment company.
About Phase Forward
Phase Forward is a leading provider of integrated data management
solutions for clinical trials and drug safety. Phase Forward’s products
and services have been utilized in over 10,000 clinical trials involving
more than 1,000,000 clinical trial study participants at over 290
organizations and regulatory agencies worldwide including: AstraZeneca,
Boston Scientific, Dana-Farber Cancer Institute, Eli Lilly, the U.S.
Food and Drug Administration, GlaxoSmithKline, Harvard Clinical Research
Institute, Merck Serono, Novartis, Novo Nordisk, PAREXEL International,
Procter & Gamble, Quintiles, sanofi-aventis, Schering-Plough Research
Institute, Servier, Tibotec and the U.K. Medicines and Healthcare
Products Regulatory Agency. Additional information about Phase Forward
is available at www.phaseforward.com.
Cautionary Statement
Certain statements made in this press release that are not based on
historical information are forward-looking statements which are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. This press release contains express or
implied forward-looking statements relating to, among other things,
Phase Forward's expectations and assumptions concerning management's
forecast of financial performance, the performance of Phase Forward's
products and services, future business and operations plans of Phase
Forward's customers, the ability of Phase Forward's customers to realize
benefits from the use of Phase Forward's products and services, and
management's plans, objectives and strategies. These statements are
neither promises nor guarantees, but are subject to a variety of risks
and uncertainties, many of which are beyond Phase Forward's control,
which could cause actual results to differ materially from those
contemplated in these forward-looking statements. In particular, the
risks and uncertainties include, among other things, changes in our
customers' industries; our ability to convince prospective customers to
adopt our solutions; competition; changing customer requirements;
governmental regulation; our ability to maintain profitability;
fluctuations in our operating results; long sales and implementation
cycles; our dependence on a limited number of customers or suppliers;
product performance; third party service interruptions or delays;
technology failures; our ability to maintain customer relationships and
contracts; our ability to retain and hire skilled personnel; our ability
to protect our intellectual property rights; product liability or
intellectual property infringement claims brought against us;
acquisitions; our ability to manage our rapid growth; our ability to
obtain capital when desired on favorable terms; and the volatility of
the market price of our common stock. Existing and prospective investors
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. Phase Forward
undertakes no obligation to update or revise the information contained
in this press release, whether as a result of new information, future
events or circumstances or otherwise. For additional disclosure
regarding these and other risks faced by Phase Forward, see the
disclosure contained in Phase Forward's public filings with the
Securities and Exchange Commission including, without limitation, its
most recent Annual Report on Form 10-K.
Source: Phase Forward
Phase Forward
Elaine Maynard, 781-902-4371
elaine.maynard@phaseforward.com
or
CHEN
PR, Inc.
Juli Greenwood, 781-672-3137
jgreenwood@chenpr.com
