Bio-Imaging Technologies, Inc. Announces First Quarter 2006 Financial Results

NEWTOWN, Pa.--(BUSINESS WIRE)--May 3, 2006--Bio-Imaging Technologies, Inc. ("Bio-Imaging") (NASDAQ: BITI - News) today announced its financial results for the quarter ended March 31, 2006. Mark L. Weinstein, President and Chief Executive Officer of Bio-Imaging, said, "The first quarter's year over year growth in service revenue is reflective of the strong contract signings and the strength of the backlog with which we entered 2006. The strong increase in service revenue and the significant reduction in operating loss illustrate the effectiveness of our sales and marketing effort and the cost containment and process improvement efforts to facilitate our return to profitability in 2006. We are increasing our 2006 service revenue guidance to a range of $28.0-$30.0 million from $26.6-$27.3 million and reiterate that we expect to be profitable for the full year 2006. Service revenue for the full year 2005 was $23.7 million."

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