Phase Forward Inc. beat its first-quarter sales and earnings estimates with a 28 percent sales surge and a 2 percent earnings increase.
The Waltham-based clinical data management software provider posted first-quarter sales of $48.8 million, compared with $38 million during the same period last year.
Net income grew to $4.1 million, compared with $4 million during the first quarter of 2008.
Phase Forward also announced its second major deal of the week, following a multi-year, multi-million-dollar deal with Novo Nordisk to provide clinical trials software to the Danish pharmaceuticals colossus.
Building on the relationship it began with Everest Clinical Research Services Inc. in 2007, the company inked another multi-year, multi-million-dollar deal with the Little Falls, N.J.-based contract research organization. The deal calls for Everest to use Phase Forward’s InForm integrated trial management and Central Designer electronic data capture platforms.
And just last week, the company announced its $14 million acquisition of Waban Software.
Phase Forward said it expects sales of up to $52 million during the second quarter, including up to $750,000 in revenues from Waban, and operating income of up to $8.4 million.
For the full year, Phase Forward forecast sales of up to $205 million, including up to $3 million from Waban, and operating income of up to $36 million.