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Financial Report: PAREXEL

Service revenue up 3% in the quarter

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By: Kristin Brooks

Managing Editor, Contract Pharma

PAREXEL

2Q Revenues: $612.2 million (+1%)

2Q Earnings: $21.8 million (-45%)

YTD Revenues: $1.2 billion (flat)

YTD Earnings: $59.6 million (-7%)

Comments: Comments: Service revenue for the quarter was up 3% with $408.9 million in Clinical Research Services (CRS), $54.6 million in PAREXEL Consulting (PC), and $70.9 million in PAREXEL Informatics (PI). Backlog as of December 31, 2016 was $5.94 billion, an increase of about $462 million year over year. The reported backlog included gross new business wins in the second quarter of $971 million, cancellations of $266 million, and a negative impact from foreign currency exchange of $52 million. The net book-to-bill ratio was 1.32 in the quarter. Results include acquisition and integration related charges in the PC segment.

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