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Financial Report: PRA Health Sciences

1Q revenues up 11%

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By: Kristin Brooks

Managing Editor, Contract Pharma

PRA Health Sciences

1Q Revenues: $430.2 million (+11%)

1Q Loss: $16.0 million (earnings were $17.2 million 1Q15)

Comments: Net new business for the quarter was $476.2 million, representing a book-to-bill ratio of 1.28 for the period. New business contributed to an ending backlog of $2.6 billion at March 31, 2016. PRA incurred transaction-related expenses of $28.9 million and a loss on extinguishment of debt of $21.5 million in the quarter.

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