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Financial Report: PAREXEL 2Q

Consolidated service revenue for the quarter was $200.9 million in Clinical Research Services (CRS), $31.9 million in PAREXEL Consulting and Medical Communications Services (PCMS), and $43.0 million in Perceptive Informatics, Inc.

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By: Tim Wright

Editor-in-Chief, Contract Pharma

PAREXEL

2Q Revenues: $275.8 million (+16%)

2Q Earnings: $5.2 million (-55%)

YTD Revenues: $643.6 million (+20%)

YTD Earnings: $18.8 million (-26%)

Comments: Consolidated service revenue for the quarter was $200.9 million in Clinical Research Services (CRS), $31.9 million in PAREXEL Consulting and Medical Communications Services (PCMS), and $43.0 million in Perceptive Informatics, Inc. Backlog was approximately $2.0 billion at the end of the quarter (+13%), which includes new business wins of $459.0 million, cancellations of $121.0 million (including $44 million from a client contract termination), and a negative impact from foreign exchange rates of $116.5 million. Earnings in the quarter reflect the impact from a contract termination whereby the company recorded $15 million in pre-tax reserves.

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