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Financial Report: PAREXEL

Revenues up 6% in the quarter and year

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By: Tim Wright

Editor-in-Chief, Contract Pharma

PAREXEL

2Q Revenues: $387.8 million (+6%)

2Q Earnings: $12.9 million (-23%)

YTD Revenues: $748.5 million (+6%)

YTD Earnings: $22.5 million (-35%)

Comments: Clinical Research Services (CRS) revenue in the quarter was $247.9 million (+7%). PAREXEL Consulting & Medical Communications Services (PCMS) revenue was $38.5 million (+20%). Perceptive Informatics (PI) revenue was $46.8 million (+14%). Backlog at the end of December was approximately $3.7 billion, up 23.8%. Restructuring charges in the quarter include $1.7 million in severance costs and $0.5 million of facility-related costs. Results in the quarter were impacted by the previous divestiture of Early Phase units.

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