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PAREXEL International Reports Third Quarter Fiscal Year 2013 Results
Date:4/30/2013

BOSTON, April 30, 2013 /PRNewswire/ -- PAREXEL International Corporation (NASDAQ: PRXL) today reported financial results for the third quarter of Fiscal Year 2013, which ended on March 31, 2013. 

For the three months ended March 31, 2013 consolidated service revenue increased by 27.7% to $454.5 million compared with $356.0 million in the prior year period.
Excluding the negative impact from foreign exchange movements in the current quarter of $2.2 million, revenue increased 28.3%.  Liquent, Inc. contributed $9.3 million to revenue in the quarter.  On a constant currency, same store basis, revenue growth was 25.7%.  Operating income as reported under Generally Accepted Accounting Principles (GAAP) totaled $36.6 million, or 8.1% of service revenue, in the third quarter of Fiscal Year 2013, as compared with $28.2 million, or 7.9% of service revenue, in the comparable quarter of the prior year.  GAAP net income for the quarter totaled $29.5 million, or $0.50 per diluted share, compared with a GAAP net income of $22.9 million, or $0.38 per diluted share for the quarter ended March 31, 2012.  GAAP diluted earnings per share grew 31.6% year-over-year.

The financial results of the March 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 third quarter of Fiscal Year 2013 was $37.3 million, or 8.2% of service revenue.  Excluding the impact of special items, adjusted operating income in the third quarter of Fiscal Year 2012 was $30.0 million, or 8.4% of service revenue.  Adjusted net income in the current and prior period (which exclude the special items referenced above) was $29.5 million, or $0.50 per diluted share in the quarter ended March 31, 2013, and was $19.9 million, or
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SOURCE PAREXEL International Corporation
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