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Financial Report: PAREXEL

Service revenue up 4% in the quarter

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By: Kristin Brooks

Managing Editor, Contract Pharma

PAREXEL

1Q Revenues: $585.2 million (+2%)

1Q Earnings: $24.9 million (-33%)

Comments: Service revenue was $512.1 million, up 4% in the quarter. Clinical Research Services were $410.2 million, up 7%. PAREXEL Consulting Services were $39.3 million, down 5%. PAREXEL Informatics revenue was $62.6 million, down 4%. A restructuring charge of $14.8 million in the quarter was related to the company’s Margin Acceleration Program.

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