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DATATRAK International, Inc. Announces First Quarter Results for 2011

Tuesday, May 17, 2011 General News J E 4
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Revenue Increases 13% over Prior Year

DATATRAK International, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations

(Unaudited)

For the Three Months Ended March 31,

2011

2010

Revenue

$1,888,321

$1,677,650

Direct costs

350,978

302,708

  Gross profit

1,537,343

1,374,942

Selling, general and administrative expenses

1,695,105

1,491,501

Severance expense

---

(182,299)

Depreciation and amortization

40,197

55,194

  (Loss) income from operations

(197,959)

10,546

Interest income

180

142

Interest expense

(2,674)

(1,311)

  (Loss) income before income taxes

(200,453)

9,377

Income tax expense

---

---

  Net (loss) income

$(200,453)

$9,377

    Net (loss) income per share:

         Net (loss) income per share, basic and

         Diluted

$(0.01)

$0.00

         Weighted average shares outstanding

14,107,807

13,706,901

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