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PAREXEL International Reports First Quarter Fiscal Year 2013 Results
Date:10/31/2012

BOSTON, Oct. 30, 2012 /PRNewswire/ -- PAREXEL International Corporation (NASDAQ: PRXL) today reported financial results for the first quarter of Fiscal Year 2013, which ended on September 30, 2012. 

For the three months ended September 30, 2012 service revenue increased by 25.4% to $394.8 million compared with $314.7 million in the prior year period.
Excluding the negative impact from foreign exchange movements in the current quarter of $7.6 million, revenue increased 27.9%.  Operating income as reported under Generally Accepted Accounting Principles (GAAP) totaled $29.8 million, or 7.5% of service revenue, in the first quarter of Fiscal Year 2013, as compared with $12.5 million, or 4.0% of service revenue, in the comparable quarter of the prior year.  GAAP net income for the quarter totaled $15.1 million, or $0.25 per diluted share, compared with a GAAP net income of $9.6 million, or $0.16 per diluted share, for the quarter ended September 30, 2011. 

The financial results of the September quarter in the current and prior periods each included special items, as detailed in the financial charts within this press release.  Excluding the impact of special items, adjusted operating income in the first quarter of Fiscal Year 2013 was $29.8 million, or 7.5% of service revenue.  Excluding the impact of special items, adjusted operating income in the first quarter of Fiscal Year 2012 was $15.2 million, or 4.8% of service revenue.  Adjusted net income in the current and prior periods (which excludes the special items referenced above) was $17.5 million, or $0.29 per diluted share in the quarter ended September 30, 2012, and was $11.7 million, or $0.20 per diluted share in the quarter ended September 30, 2011. 

Pro forma amounts for the first quarter of Fiscal Year 2013 excluded a gain on the sale of a building, a favorab
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SOURCE PAREXEL International Corporation
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