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

ases across all business and geographic reporting segments.  We carefully managed our expenses and drove improved operational efficiencies through a number of productivity initiatives, which resulted in sequential increases in both gross and operating margin.  I believe the quarter's operating performance also illustrates our ability to leverage our business model.  I am pleased with our progress, and am encouraged by the operating profitability improvements this quarter."

Mr. von Rickenbach continued, "I believe we are moving forward with good momentum, and we have a strong backlog and a healthy business development pipeline.
We remain focused on quality and operational execution to ensure client satisfaction, as well as on generating solid revenue growth, improving operating profitability, and increasing earnings per share."

The Company issued forward-looking guidance for the second quarter of Fiscal Year 2013 (ending December 31, 2012), and for Fiscal Year 2013.  The guidance takes into account recent exchange rates, higher projected tax rates, the estimated impact of the stock buyback program, and the Company's updated overall outlook.  The Company expects to report service revenue for the second quarter (ending December 31, 2012) in the range of $400 to $410 million and GAAP earnings per diluted share in the range of $0.31 to $0.33.  For Fiscal Year 2013, service revenue is expected to be in the range of $1.63 to $1.66 billion, GAAP earnings per diluted share in the range of $1.30 to $1.40, and adjusted earnings per diluted share in the range of $1.34 to $1.44 (which exclude the impact of special items previously discussed in this release).  Previously issued guidance for Fiscal Year 2013 was for service revenue of $1.63 to $1.66 billion and earnings per diluted share in the range of $1.33 to $1.45.

In addition to the financial measures prepared in accordance with generally accepted accounting principl
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SOURCE PAREXEL International Corporation
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