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PAREXEL International Reports Fourth Quarter And Fiscal Year 2014 Results
Date:8/6/2014

year, which were records on both fronts.  The successful execution of operational efficiency programs, an improved labor mix, and further leverage of low cost countries drove notable gross margin improvement in the Clinical Research Services and PAREXEL Informatics businesses, leading to solid operating margin expansion during the Fiscal Year.  I would like to recognize and thank our 15,600 employees who delivered high levels of customer service and enabled us to meet our financial goals and commitments.  We achieved these results while concurrently making strategic investments to help meet our longer term goals, and returning cash to shareholders through a $150 million stock buyback program." 

Mr. von Rickenbach continued, "The market for our services remains attractive, and we are proud to continue to be one of the world's leading biopharmaceutical services companies. We moved into the new fiscal year with positive momentum, supported by a strong backlog and market position, and a healthy business development pipeline.  Our priorities for Fiscal Year 2015 include further building upon our leadership position in the industry, delivering high quality service to our clients, and continuing to foster a high performance culture focused on innovation.  At the same time we expect to achieve solid revenue growth accompanied by continued improvement in operating profitability and increased earnings per share.  We are also actively working on the implementation of a revised long-term tax strategy aimed at enhancing shareholder value.  We expect to achieve our Fiscal Year 2015 objectives while also making investments in our businesses in an effort to continuously improve the products and services that we offer to our clients, thereby positioning us for sustained growth."

Fourth Quarter Fiscal Year 2014 Results

For the three months ended June 30, 2014 PAREXEL's consolidated service revenue increased by 10.2% to $51
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SOURCE PAREXEL International Corporation
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