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Financial Report: Parexel

Service revenues rise across the board, with 30% bump for Perceptive Informatics unit

By: Gil Roth

President, Pharma & Biopharma Outsourcing Association

Financial Report: Parexel 2Q14

2Q Revenues: $574 million (+19%)

2Q Earnings: $28 million (+33%)

HY Revenues: $1.1 billion (+17%)

HY Earnings: $54 million (+49%)

Comments: Service revenues in 2Q14 grew 15% to $487 million, with recent acquisitions contributing $14 million to that pool. In the quarter, Clinical Research Services accounted for $364 million (+14%), Consulting and Medical Communications were $56 million (+13%), and the Perceptive Informatics group added $68 million (+30%). Backlog at the end of the quarter was $4.8 billion (+6% year-over-year). The reported backlog included gross new business wins in the quarter of $836 million, cancellations of $181.4 million, and a positive impact from foreign exchange rates of $11.1 million. The net book-to-bill ratio was 1.34 in the quarter.

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