Dendrite International (DRTE) 8-K Dendrite Reports Strong Third Quarter

Exhibit 99.1

DENDRITE Press Release

Dendrite Reports Strong Third Quarter

—GAAP E.P.S. of $0.24, up 33% from prior year

—Adjusted E.P.S. of $0.26, up 30% from prior year

—Revenues of $114.4 million, up 15% from prior year

Bedminster, N.J., October 27, 2005—Dendrite International, Inc. (NASDAQ: DRTE) today reported its financial results for the quarterly period ended September 30, 2005.

The Company reported that third quarter 2005 GAAP earnings increased 33% to $0.24 per diluted share, compared to GAAP earnings of $0.18 per diluted share for the third quarter of 2004. Adjusted earnings of $0.26 per diluted share grew 30% over the adjusted earnings of $0.20 per diluted share in the third quarter of 2004.

GAAP operating income for the third quarter of 2005 grew 39% to $17.4 million or 15.2% of revenue versus $12.5 million or 12.6% of revenue in the third quarter of 2004.

Adjusted operating income was $18.4 million versus $13.7 million in the third quarter of 2004. As a percent of revenue, third quarter adjusted operating income grew 230 basis points from the prior year—from 13.8% of revenue in 2004 to 16.1% of revenue in 2005.  Adjusted operating income excludes non-cash amortization expense pertaining to acquisition-related intangible assets of approximately $1.0 million in the third quarter of 2005 and $1.2 million in the third quarter of 2004. A reconciliation of GAAP results to adjusted results can be found on the unaudited financial tables included with this press release.

Revenues increased 15% versus the third quarter of 2004 to $114.4 million. Sales Solutions increased over 20% from prior year. Although in aggregate, growth in the total Marketing Solutions group was diminished by the performance of the Company’s Clinical and Data initiatives, the Company’s

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Integrated Marketing Solutions revenue increased by 25% versus the third quarter of 2004. Shipping revenues of $4.0 million were flat with prior year.

Year-to-Date Results

Revenues for the first nine months of 2005 were $328.9 million, up 12% from prior year.

Year-to-date adjusted operating income of $47.3 million was 14.4% of total revenue, a 180 basis point improvement from the 12.6% operating income of the year-to-date third quarter of 2004. 2005 year-to-date adjusted operating income excludes approximately $3.3 million of non-cash amortization expense pertaining to acquisition-related intangible assets and $9.4 million of accounting charges from the first quarter of 2005 that related to the rationalization of surplus facilities and severance.  Adjusted operating income for the first nine months of 2004 excludes approximately $3.5 million of non-cash amortization expense pertaining to acquisition-related intangible assets.  Including the above items, GAAP operating income in the first nine months of 2005 was $34.6 million or 10.5% of revenue, versus $33.5 million or 11.4% of revenue in the same period of the prior year.

Adjusted earnings per diluted share were $0.67 year-to-date through September 30, 2005, up 26% versus the $0.53 per diluted share reported in the same period of 2004. GAAP E.P.S. for the first nine months of 2005 was $0.49 per diluted share versus $0.48 per diluted share reported in the first nine months of 2004.

Balance Sheet Highlights

Dendrite generated a near record $18.8 million of cash from operations in the third quarter 2005. Accounts receivable days sales outstanding (DSO) improved to 60 days, down three days from the prior quarter.

Dendrite ended the third quarter of 2005 with $64.6 million in cash and cash equivalents. The Company utilized approximately $11.3 million of cash (net of cash acquired) to acquire Optas, Inc., while capital expenditures in the third quarter of 2005 totaled approximately $4.9 million.

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Business Highlights

Dendrite announced it completed the third quarter with a number of significant business achievements, including:

·Further establishing its footprint in the U.S. mid-tier pharma market by extending the alliance with Esprit Pharma to include additional agreements for the Company’s marketing services and sample outsourcing solutions.

·Securing numerous new contracts for the First Source Sample & First Source Compliance™ Suite (regulatory compliance and sample management outsourcing solutions) through the recently acquired subsidiary Buzzeo PDMA, Inc.  This group has seen tremendous growth in the number of new contract wins since being acquired by Dendrite in January 2005.

·Adding more users in Japan for j-force Net™ with new major pharmaceutical company wins.

·Completing the implementation of the company’s flagship Version IV SFA product (Mobile Intelligence™) for the US-based subsidiary of ALTANA AG.

·Increasing penetration in its patient support programs that are aimed at improving compliance by signing up a total of 4 of the top 10 Pharma products so far this year.

·Assisting a U.S. pharmaceutical manufacturer reducing its sales force to integrate non-personal promotion and sampling across a large number of previously rep-detailed doctors.

·Acquiring Optas, Inc., in September 2005, the industry's premier provider of privacy-safe, relationship marketing solutions to enable pharmaceutical companies to deliver consistent messages to physicians and patients, while maintaining adherence with federal and state regulations surrounding privacy (e.g., HIPAA—the Health Insurance Portability and Accountability Act).

“We have been very pleased to see consistent growth in revenue and E.P.S. over the last few quarters,” said John Bailye, Chairman and CEO. “The market

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continues to be difficult and unpredictable. We have a promising pipeline heading into the fourth quarter, but as usual, we have to work hard to see that the opportunities convert to results on time. It is clear that the breadth and depth of our offerings position us very well for the future.”

To participate in Dendrite’s earnings call web cast on October 27, 2005 at 5 p.m. EDT, or to obtain replay information, please visit the Investors’ Highlights Section of our website at www.dendrite.com.

About Dendrite

Founded in 1986, Dendrite International (NASDAQ: DRTE) provides diversified sales, marketing, clinical and compliance solutions to the global life sciences and pharmaceutical industry. With clients in more than 50 countries, including the world's top 20 pharmaceutical companies, Dendrite strives to be the first source for expert promotional and sales effectiveness solutions. For more information, please visit www.dendrite.com.

Investor Relations

Christine Croft
908-443-4265
christine.croft@dendrite.com

Note: Dendrite is a registered trademark of Dendrite International, Inc.

This document contains forward-looking statements that may be identified by such forward-looking terminology as “expect,” “believe,” “anticipate,” “will,” “intend,” “plan,” “target,” “outlook,” “guidance,” and similar statements or variations. Such forward-looking statements are based on our current expectations, estimates, assumptions and projections and involve significant risks and uncertainties, including risks which may result from our dependence on the pharmaceutical industry; fluctuations in quarterly revenues due to lengthy sales and implementation cycles for our products; our fixed expenses in relation to fluctuating revenues and variations in customers' budget cycles; dependence on certain major customers; changes in demand for our products and services attributable to any weakness experienced in the economy or mergers, acquisitions and consolidations in the pharmaceutical industry; successful and timely development and introduction of new products and versions; rapid technological changes; risks associated with foreign currency fluctuations as they affect our non-U.S. operations; increased competition; risks associated with our expanded international operations and our ability to adopt and respond successfully to the unique risks involved in our non-U.S. operations; risks associated with acquisitions; our ability to effectively manage our growth; the protection of our proprietary technology; our ability to compete in the Internet-related products and services market; the continued demand for Internet-related products and services; the ability of our third party vendors to respond to technological change; our ability to maintain our relationships with third-party vendors; less favorable than anticipated results from strategic relationships or acquisitions; dependence of data solutions on strategic relationships; events which may affect the U.S. and world economies; and

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catastrophic events which could negatively affect our information technology infrastructure. Other important factors that should be reviewed and carefully considered are included in the Company's 10-K, 10-Qs, and other reports filed with the SEC. Actual results may differ materially. The Company assumes no obligation for updating any such forward-looking statements to reflect actual results, changes in expectations or assumptions or other changes affecting such forward-looking statements, even if such results or changes make it clear that any such projected results will not be achieved. Our outlook and other forward-looking information is as of the date of this release only. At any such time in the future as the Company may provide revenue, earnings and other outlook information, prior related outlook should no longer be considered current.

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TABLE 1

DENDRITE INTERNATIONAL, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS—GAAP

(IN THOUSANDS, EXCEPT PER SHARE DATA)

(UNAUDITED)

	Three Months Ended September 30,												Nine Months Ended September 30,
	2005			%		2004			%		Change		2005			%		2004			%		Change
Revenues:
Services & Technology:
Sales solutions	$	86,314		75.5	%	$	71,629		72.0	%	21	%	$	239,527		72.8	%	$	214,673		72.9	%	12	%
Marketing solutions	24,052			21.0	%	23,834			24.0	%	1	%	75,757			23.0	%	67,847			23.0	%	12	%
Shipping	3,994			3.5	%	3,965			4.0	%	1	%	13,589			4.1	%	11,879			4.0	%	14	%
Total revenues	114,360			100.0	%	99,428			100.0	%	15	%	328,873			100.0	%	294,399			100.0	%	12	%
Operating Costs & Expenses:
Operating costs (including shipping)	61,252			53.6	%	51,578			51.9	%	19	%	173,732			52.8	%	151,807			51.6	%	14	%
Selling, general and administrative	33,395			29.2	%	32,832			33.0	%	2	%	103,258			31.4	%	98,923			33.6	%	4	%
Research and development	1,343			1.2	%	1,673			1.7	%	-20	%	4,615			1.4	%	7,417			2.5	%	-38	%
Facility and other charges	—			0.0	%	—			0.0	%	0	%	9,372			2.8	%	—			0.0	%	0	%
Amortization of acquired intangible assets	960			0.8	%	1,214			1.2	%	-21	%	3,340			1.0	%	3,467			1.2	%	-4	%
Other operating income	—			0.0	%	(368		)	-0.4	%	0	%	—			0.0	%	(707		)	-0.2	%	-100	%
Total operating costs & expenses	96,950			84.8	%	86,929			87.4	%	12	%	294,317			89.5	%	260,907			88.6	%	13	%
Operating income	17,410			15.2	%	12,499			12.6	%	39	%	34,556			10.5	%	33,492			11.4	%	3	%
Interest (income) expense, net	(150		)	-0.1	%	14			0.0	%	NM		(315		)	-0.1	%	11			0.0	%	NM
Other expense (income), net	35			0.0	%	(190		)	-0.2	%	-118	%	32			0.0	%	(251		)	-0.1	%	-113	%
Income before income tax expense	17,525			15.3	%	12,675			12.7	%	38	%	34,839			10.6	%	33,732			11.5	%	3	%
Income tax expense	6,747			5.9	%	4,880			4.9	%	38	%	13,413			4.1	%	12,987			4.4	%	3	%
Net income	$	10,778		9.4	%	$	7,795		7.8	%	38	%	$	21,426		6.5	%	$	20,745		7.0	%	3	%
Net income per share:
Basic	$	0.25				$	0.19				32	%	$	0.50				$	0.50				0	%
Diluted	$	0.24				$	0.18				33	%	$	0.49				$	0.48				2	%
Shares used in computing net income per share:
Basic	42,944					41,620							42,670					41,335
Diluted	44,331					42,939							43,903					42,942

NM—Not meaningful.

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TABLE 2

DENDRITE INTERNATIONAL, INC.

ADJUSTED CONSOLIDATED STATEMENT OF OPERATIONS (NON-GAAP)

(IN THOUSANDS, EXCEPT PER SHARE DATA)

(UNAUDITED)

	Three Months Ended September 30,(1)												Nine Months Ended September 30,(2)
	2005			%		2004			%		Change		2005			%		2004			%		Change
Revenues:
Services & Technology:
Sales solutions	$	86,314		75.5	%	$	71,629		72.0	%	21	%	$	239,527		72.8	%	$	214,673		72.9	%	12	%
Marketing solutions	24,052			21.0	%	23,834			24.0	%	1	%	75,757			23.0	%	67,847			23.0	%	12	%
Shipping	3,994			3.5	%	3,965			4.0	%	1	%	13,589			4.1	%	11,879			4.0	%	14	%
Total revenues	114,360			100.0	%	99,428			100.0	%	15	%	328,873			100.0	%	294,399			100.0	%	12	%
Operating Costs & Expenses:
Operating costs (including shipping)	61,252			53.6	%	51,578			51.9	%	19	%	173,732			52.8	%	151,807			51.6	%	14	%
Selling, general and administrative	33,395			29.2	%	32,832			33.0	%	2	%	103,258			31.4	%	98,923			33.6	%	4	%
Research and development	1,343			1.2	%	1,673			1.7	%	-20	%	4,615			1.4	%	7,417			2.5	%	-38	%
Other operating income	—			0.0	%	(368		)	-0.4	%	0	%	—			0.0	%	(707		)	-0.2	%	-100	%
Total operating costs & expenses	95,990			83.9	%	85,715			86.2	%	12	%	281,605			85.6	%	257,440			87.4	%	9	%
Operating income	18,370			16.1	%	13,713			13.8	%	34	%	47,268			14.4	%	36,959			12.6	%	28	%
Interest (income) expense, net	(150		)	-0.1	%	14			0.0	%	NM		(315		)	-0.1	%	11			0.0	%	NM
Other expense (income), net	35			0.0	%	(190		)	-0.2	%	-118	%	32			0.0	%	(251		)	-0.1	%	-113	%
Income before income tax expense	18,485			16.2	%	13,889			14.0	%	33	%	47,551			14.5	%	37,199			12.6	%	28	%
Income tax expense	7,117			6.2	%	5,347			5.4	%	33	%	18,307			5.6	%	14,322			4.9	%	28	%
Net income	$	11,368		9.9	%	$	8,542		8.6	%	33	%	$	29,244		8.9	%	$	22,877		7.8	%	28	%
Net income per share:
Basic	$	0.26				$	0.21				24	%	$	0.69				$	0.55				25	%
Diluted	$	0.26				$	0.20				30	%	$	0.67				$	0.53				26	%
Shares used in computing net income per share:
Basic	42,944					41,620							42,670					41,335
Diluted	44,331					42,939							43,903					42,942

Note:The non-GAAP financial information set forth above is not prepared in accordance with U.S. generally accepted  ccounting principles (GAAP).  These non-GAAP financial measures may be different from non-GAAP financial measures used by other companies.  Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP.  The Company believes that disclosing non-GAAP statements of operations provide further insight into the operating performance of the Company and are useful to investors to help them analyze operating trends and perform comparisons across periods. Management uses the adjusted numbers to manage the business and evaluate operating performance on a period-to-period comparative basis.

(1)See Table 3 for the Reconciliation of Adjusted (NON-GAAP) to GAAP Statement of Operations for the three months ended September 30, 2005 and 2004.

(2)See Table 4 for the Reconciliation of Adjusted (NON-GAAP) to GAAP Statement of Operations for the nine months ended September 30, 2005 and 2004.

NM—Not meaningful.

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TABLE 3

DENDRITE INTERNATIONAL, INC.

RECONCILIATION OF ADJUSTED (NON-GAAP) TO GAAP STATEMENT OF OPERATIONS

THREE MONTHS ENDED SEPTEMBER 30, 2005 AND 2004

(IN THOUSANDS, EXCEPT PER SHARE DATA)

(UNAUDITED)

	Three Months Ended September 30, 2005									Three Months Ended September 30, 2004
	Total Adjusted			Amortization(1)			GAAP			Total Adjusted			Amortization(1)			GAAP
Revenues:
Services & Technology:
Sales solutions	$	86,314		$	—		$	86,314		$	71,629		$	—		$	71,629
Marketing solutions	24,052			—			24,052			23,834			—			23,834
Shipping	3,994			—			3,994			3,965			—			3,965
Total revenues	114,360			—			114,360			99,428			—			99,428
Operating Costs & Expenses:
Operating costs (including shipping)	61,252			—			61,252			51,578			—			51,578
Selling, general and administrative	33,395			—			33,395			32,832			—			32,832
Research and development	1,343			—			1,343			1,673			—			1,673
Facility and other charges	—			—			—			—			—			—
Amortization of acquired intangible assets	—			960			960			—			1,214			1,214
Other operating income	—			—			—			(368		)	—			(368		)
Total operating costs & expenses	95,990			960			96,950			85,715			1,214			86,929
Operating income	18,370			(960		)	17,410			13,713			(1,214		)	12,499
Interest (income) expense, net	(150		)	—			(150		)	14			—			14
Other expense (income), net	35			—			35			(190		)	—			(190		)
Income before income tax expense	18,485			(960		)	17,525			13,889			(1,214		)	12,675
Income tax expense	7,117			370			6,747			5,347			467			4,880
Net income	$	11,368		$	(590	)	$	10,778		$	8,542		$	747		$	7,795
Net income per share: (2)
Basic	$	0.26		$	(0.01	)	$	0.25		$	0.21		$	(0.02	)	$	0.19
Diluted	$	0.26		$	(0.01	)	$	0.24		$	0.20		$	(0.02	)	$	0.18
Shares used in computing net income per share:
Basic	42,944			42,944			42,944			41,620			41,620			41,620
Diluted	44,331			44,331			44,331			42,939			42,939			42,939

(1)Represents exclusion of acquisition related amortization expense of definite lived intangible assets.  This amortization was previously included within Total Costs of Sales and Selling, General & Administrative costs in our prior presentations.

(2)EPS does not appear to foot across due to the mathematical rounding of the individual calculations.

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TABLE 4

DENDRITE INTERNATIONAL, INC.

RECONCILIATION OF ADJUSTED (NON-GAAP) TO GAAP STATEMENT OF OPERATIONS

NINE MONTHS ENDED SEPTEMBER 30, 2005 AND 2004

(IN THOUSANDS, EXCEPT PER SHARE DATA)

(UNAUDITED)

	Nine Months Ended September 30, 2005															Nine Months Ended September 30, 2004
	Total Adjusted			Amortization(1)			Facility Charges			Severance Charges			GAAP			Total Adjusted			Amortization(1)			GAAP
Revenues:
Services & Technology:
Sales solutions	$	239,527		$	—		$	—		$	—		$	239,527		$	214,673		$	—		$	214,673
Marketing solutions	75,757			—			—			—			75,757			67,847			—			67,847
Shipping	13,589			—			—			—			13,589			11,879			—			11,879
Total revenues	328,873			—			—			—			328,873			294,399			—			294,399
Operating Costs & Expenses:
Operating costs (including shipping)	173,732			—			—			—			173,732			151,807			—			151,807
Selling, general and administrative	103,258			—			—			—			103,258			98,923			—			98,923
Research and development	4,615			—			—			—			4,615			7,417			—			7,417
Facility and other charges	—			—			7,649			1,723			9,372			—			—			—
Amortization of acquired intangible assets	—			3,340			—			—			3,340			—			3,467			3,467
Other operating income	—			—			—			—			—			(707		)	—			(707		)
Total operating costs & expenses	281,605			3,340			7,649			1,723			294,317			257,440			3,467			260,907
Operating income	47,268			(3,340		)	(7,649		)	(1,723		)	34,556			36,959			(3,467		)	33,492
Interest (income) expense, net	(315		)	—			—			—			(315		)	11			—			11
Other expense (income), net	32			—			—			—			32			(251		)	—			(251		)
Income before income taxes	47,551			(3,340		)	(7,649		)	(1,723		)	34,839			37,199			(3,467		)	33,732
Income taxes	18,307			1,286			2,945			663			13,413			14,322			1,335			12,987
Net income	$	29,244		$	(2,054	)	$	(4,704	)	$	(1,060	)	$	21,426		$	22,877		$	(2,132	)	$	20,745
Net income per share:(2)
Basic	$	0.69		$	(0.05	)	$	(0.11	)	$	(0.02	)	$	0.50		$	0.55		$	(0.05	)	$	0.50
Diluted	$	0.67		$	(0.05	)	$	(0.11	)	$	(0.02	)	$	0.49		$	0.53		$	(0.05	)	$	0.48
Shares used in computing net income per share:
Basic	42,670			42,670			42,670			42,670			42,670			41,335			41,335			41,335
Diluted	43,903			43,903			43,903			43,903			43,903			42,942			42,942			42,942

(1)Represents exclusion of acquisition related amortization expense of definite lived intangible assets.  This amortization was previously included within Total Costs of Sales and Selling, General & Administrative costs in our prior presentations.

(2)EPS does not appear to foot across due to the mathematical rounding of the individual calculations.

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TABLE 5

DENDRITE INTERNATIONAL, INC.

CONSOLIDATED BALANCE SHEETS

(IN THOUSANDS, EXCEPT SHARE DATA)

(UNAUDITED)

	September 30,			December 31,
	2005			2004
Assets
Current Assets:
Cash and cash equivalents	$	64,618		$	64,020
Accounts receivable, net	76,118			71,653
Prepaid expenses and other current assets	7,079			6,935
Deferred income taxes	6,757			5,029
Total current assets	154,572			147,637
Property and equipment, net	55,507			45,283
Other assets	8,758			7,922
Goodwill	91,409			80,963
Intangible assets, net	25,685			19,876
Purchased capitalized software, net	598			1,056
Capitalized software development costs, net	10,339			9,170
Deferred income taxes	9,640			9,873
	$	356,508		$	321,780
Liabilities and Stockholders’ Equity
Current Liabilities:
Accounts payable	$	10,495		$	8,171
Income taxes payable	8,265			12,013
Capital lease obligations	1,467			1,689
Accrued compensation and benefits	15,780			14,662
Accrued professional and consulting fees	6,320			7,413
Accrued facility and other charges	2,103			—
Other accrued expenses	15,135			19,284
Purchase accounting restructuring accrual	1,925			3,000
Deferred revenues	13,804			13,347
Total current liabilities	75,294			79,579
Capital lease obligations	2,068			3,036
Purchase accounting restructuring accrual	3,224			4,143
Accrued facility and other charges	4,497			—
Deferred rent	5,936			2,070
Other non-current liabilities	5,293			5,363
Stockholders’ Equity:
Preferred stock, no par value, 15,000,000 shares authorized, none issued	—			—
Common stock, no par value, 150,000,000 shares authorized, 46,117,895 and 44,913,584 shares issued; 43,355,678 and 42,374,836 shares outstanding at September 30, 2005 and December 31, 2004, respectively	142,563			125,237
Retained earnings	148,927			127,501
Deferred compensation	(368		)	(123		)
Accumulated other comprehensive income	(639		)	1,239
Less treasury stock, at cost	(30,287		)	(26,265		)
Total stockholders’ equity	260,196			227,589
	$	356,508		$	321,780

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TABLE 6

DENDRITE INTERNATIONAL, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(IN THOUSANDS)

(UNAUDITED)

	Nine Months Ended September 30,
	2005			2004
Operating activities:
Net income	$	21,426		$	20,745
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	18,026			15,958
Write-off of property and equipment	1,030			—
Amortization of deferred compensation, net of forfeitures	103			149
Deferred income tax benefit	(2,277		)	—
Other adjustments for non-cash items	—			901
Changes in assets and liabilities, net of effects from acquisitions:
(Increase) decrease in accounts receivable	(1,825		)	7,424
Decrease in prepaid expenses and other current assets	56			926
(Increase) decrease in other assets	(1,039		)	786
Increase (decrease) in accounts payable and accrued expenses	1,361			(3,671		)
Increase in accrued facility and other charges	6,618			—
Decrease in purchase accounting restructuring accrual	(2,180		)	(5,606		)
(Decrease) increase in income taxes payable	(1,621		)	3,907
Increase (decrease) in deferred revenue	221			(5,505		)
(Decrease) increase in other non-current liabilities	(70		)	860
Net cash provided by operating activities	39,829			36,874
Investing activities:
Proceeds from sale-leaseback of furniture and equipment	—			2,162
Acquisitions, net of cash acquired	(21,439		)	(7,312		)
Purchases of property and equipment	(22,633		)	(15,083		)
Additions to capitalized software development costs	(3,845		)	(4,087		)
Net cash used in investing activities	(47,917		)	(24,320		)
Financing activities:
Repayments of long-term debt	—			(1,773		)
Repayments of acquired loan	—			(624		)
Payments on capital lease obligations	(1,241		)	(829		)
Issuance of common stock	10,938			6,249
Net cash provided by financing activities	9,697			3,023
Effect of foreign exchange rate changes on cash	(1,011		)	152
Net increase in cash and cash equivalents	598			15,729
Cash and cash equivalents, beginning of year	64,020			30,405
Cash and cash equivalents, end of period	$	64,618		$	46,134

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TABLE 7

DENDRITE INTERNATIONAL, INC.

PURCHASED INTANGIBLE ASSET AMORTIZATION

(IN THOUSANDS)

(UNAUDITED)

	2005
	Actuals						Forecast				Full Year Projections* (b)
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		2005		2006		2007		2008		2009		Thereafter
Synavant Intangible Detail
Covenants not to compete	$	263	$	218	$	—	$	—	$	481	$	—	$	—	$	—	$	—	$	—
Backlog (a)	22		22		22		21		87		—		—		—		—		—
Pharbase Database	65		65		65		65		260		260		260		260		260		899
Customer relationships	112		111		111		111		445		446		446		446		446		2,883
Synavant Amortization Total	462		416		198		197		1,273		706		706		706		706		3,782
PharmaVision Amortization (c)	81		77		74		86		318		237		—		—		—		—
Schwarzeck Amortization (c)	76		67		68		78		289		307		106		—		—		—
SAI Amortization	153		152		153		152		610		446		—		—		—		—
UTO Brain Amortization (c)	45		51		48		48		192		191		191		191		191		787
MDM Amortization	191		191		191		176		749		704		280		93		78		153
Optas Amortization	—		—		54		210		264		581		561		537		537		1,669
Buzzeo Amortization	242		176		174		174		766		777		692		604		479		1,432
Total Amortization Expense	$	1,250	$	1,130	$	960	$	1,121	$	4,461	$	3,949	$	2,536	$	2,131	$	1,991	$	7,823

(a)   Backlog is amortized as the backlog revenue is recognized.

(b)   Amortization is recorded on a straight-line basis within each respective year.

(c)   Amortization expense will fluctuate based upon movements in foreign currency.

*      See "forward-looking" statement included as part of this release.  It does not reflect or assume any additional acquisitions.

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