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Financial Report: PAREXEL

Consulting revenue up 38% in the quarter

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By: Kristin Brooks

Managing Editor, Contract Pharma

PAREXEL

1Q Revenues: $580.7 million (-1%)

1Q Earnings: $40.2 million (+61%)

Comments: Clinical Research Services revenue was $381.6 million in the quarter, down 7%. PAREXEL Consulting revenue was $54.2 million, up 38%. PAREXEL Informatics revenue was $65.1 million, up 4%. Backlog as of September 30, 2016 was $5.8 billion, an increase of approximately $365 million year over year. The reported backlog included gross new business wins in the first quarter of $930 million, cancellations of $364 million, and a negative impact from foreign currency exchange rates of $2.6 million. The net book-to-bill ratio was 1.13 in the quarter.

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