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Hill International (NYSE:HIL), the global leader in managing construction risk, announced today financial results for the third quarter and nine months ended September 30, 2010 (see attached tables). Total revenue for the third quarter of 2010 grew to $111.0 million, an increase of 7.6% from the third quarter of 2009. Consulting fee revenue for the third quarter of 2010 was $97.4 million, an increase of 12.3% from the third quarter of 2009. That percentage growth in consulting fees was comprised of a 3.1% organic increase plus 9.2% growth from acquisitions.
Operating profit for the third quarter of 2010 was $6.3 million, a decrease of 22.6% from the third quarter of 2009. Net earnings for the third quarter were $5.1 million (or $0.13 per diluted share based on 39.1 million diluted shares), down 12.6% from the prior year's quarter.
Total backlog at the end of the third quarter of 2010 increased to $599 million from $569 million at the end of the second quarter of 2010. Twelve-month backlog at the end of the third quarter of 2010 increased to $255 million from $241 million at the end of the second quarter of 2010.
"We are pleased with Hill's financial performance during the third quarter," said Irvin E. Richter, Hill's Chairman and Chief Executive Officer. "We continue to see improving markets for our services and we have positive expectations heading into the last quarter of this year and the beginning of next year," added Richter.
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Power3 Medical Products, Inc. (PWRM.OB)
PWRM recently delivered four poster presentations at the 2010 ICAD. These presentations discussed PWRM’s diagnostic test, NuroPro, and focused on PWRM’s Alzheimer’s disease blood serum biomarkers, test and clinical validation trials.
“In preparation for commercialization, our objective at this meeting was to show how Power3 ’s protein biomarkers and blood tests provide superior solutions for diagnosis and drug response to improve the treatment of Alzheimer’s disease,” stated Dr. Ira L. Goldknopf, PWRM ’s President & Chief Scientific Officer. “It was gratifying to receive substantial attention to our posters from representatives of major pharma and clinical research institutions from around the world. They expressed surprise and enthusiasm for our findings, especially those relating to the methods by which Power3’s protein biomarkers indicate how patients respond to treatment with the three major anti-dementia drugs.”
“We are pleased that our blood tests specifically diagnose Alzheimer’s in patients, both pre- and post-treatment,” commented Helen R. Park, MS, CEO of PWRM, “and that our scientific collaborators, Dr. Marwan Sabbagh, Medical and Scientific Director of the Banner Sun Health Medical Research Institute, and Dr. Lourdes R. Bosquez, President of the Woodlands Behavioral Institute, Inc., presented along with us at the meeting in Hawaii.”
“We are within striking distance of realizing an Alzheimer’s clinical diagnostic tool which I hope will lead to a greater understanding of the disease and buoy the pace of future therapeutic interventions,” added Marwan Sabbagh MD, Medical and Scientific Director of Banner Sun Health Medical Research Institute.
PWRM has filed several patent applications that are currently pending for its NuroPro technology. PWRM also has a world-wide exclusive license from the Baylor College of Medicine in Houston, Texas. To date, PWRM has given 9 presentations on NuroPro at international scientific meetings in the United States, Europe and China. PWRM has also published 6 articles on NuroPro in peer-reviewed scientific journals. PWRM intends to publish these latest findings as well.
To learn more about PWRM visit: http://www.Power3Medical.com
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