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Financial Report: PAREXEL 2Q

Consolidated service revenue for quarter was $221.6 million in Clinical Research Services (CRS), $29.7 million in PAREXEL Consulting and Medical Communications Services (PCMS), and $33.4 million in Perceptive Informatics, Inc.

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By: Tim Wright

Editor-in-Chief, Contract Pharma

PAREXEL 2Q

2Q Revenues: $284.7 million (+3%)

2Q Earnings: $3.5 million (-33%)

YTD Revenues: $544.5 million (+1%)

YTD Earnings: $15.9 million (-15%)

Comments: Consolidated service revenue for quarter was $221.6 million in Clinical Research Services (CRS), $29.7 million in PAREXEL Consulting and Medical Communications Services (PCMS), and $33.4 million in Perceptive Informatics, Inc. Restructuring and related charges in the quarter were $14.3 million, including costs for severance and the abandonment of facilities, as well as a $6.1 million charge for the impairment of an investment, partly offset by a recovery related to a prior charge. YTD revenue in The Americas was $210.5 million (-6%). YTD Revenue in Europe, Middle East & Africa was flat at $272.0 million, while Asia/Pacific revenues were up 44% to $62.0 million.

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