April 1, 2008
Acquisition Doubles Revenue For Averion
By Matthew L. Brown
Southborough-based Averion International Corp. reported a net loss of $5.3 million for 2007 compared to a net loss of $5.1 million the previous year.
The company's total revenue for the year was $39.9 million compared to $15.6 million the previous year.
Averion said the revenue jump was the result of its acquisition of Switzerland-based Hesperion, which doubled the company's size. Also during the year, the company sold its staffing services operation. The company's backlog of work increased to $74.7 million in 2007 from $35.6 million in 2006.
The company reported a loss from continuing operations of $3.9 million compared to $4.6 million in 2006.
Averion is an international clinical research company that specializes in the oncology, cardiovascular and medical devices segments.
The company's total revenue for the year was $39.9 million compared to $15.6 million the previous year.
Averion said the revenue jump was the result of its acquisition of Switzerland-based Hesperion, which doubled the company's size. Also during the year, the company sold its staffing services operation. The company's backlog of work increased to $74.7 million in 2007 from $35.6 million in 2006.
The company reported a loss from continuing operations of $3.9 million compared to $4.6 million in 2006.
Averion is an international clinical research company that specializes in the oncology, cardiovascular and medical devices segments.
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