Contract research organization Kendle International Inc. (NSDQ:KNDL) saw its stock plummet 15 percent a day after it announced a $9 million fourth-quarter loss.
Kendle’s stock closed at $10.28 after the Cincinnati-based CRO reported its fourth-quarter and full-year earnings after market close the prior day.
Kendle lost $9 million, or 62 cents per share, in the fourth quarter compared with net income of $2 million, or 16 cents per share, in the fourth quarter of 2009.