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

earch Services (CRS), $50.6 million in PAREXEL Consulting and Medical Communications Services (PCMS), and $61.5 million in Perceptive Informatics, Inc.

For the nine months ended March 31, 2013, consolidated service revenue was $1,271.3 billion versus $1,003.9 billion in the prior year period, an increase of 26.6%.  GAAP operating income for the current nine-month period was $97.8 million, or 7.7% of service revenue, compared with GAAP operating income of $63.3 million, or 6.3% of service revenue in the prior year period.  GAAP net income for the nine months ended March 31, 2013 was $65.9 million, or $1.10 per diluted share, compared with GAAP net income of $45.4 million, or $0.75 per diluted share, in the prior year period.  Excluding the impact of special items as detailed in the financial charts in both nine month periods, adjusted operating income was $99.2 million or 7.8% of consolidated service revenue for the nine months ended on March 31, 2013, compared with $68.9 million or 6.9% of consolidated service revenue for the nine months ended on March 31, 2012.  On an adjusted basis, net income for the nine months ended March 31, 2013 was $71.4 million, or $1.19 per diluted share, compared with $45.5 million or $0.75 per diluted share in the comparable prior year nine month period.

Backlog at the end of March 2013 was approximately $4.50 billion, an increase of 6.6% year-over-year.  The reported backlog included gross new business wins in the quarter of $759.7 million, cancellations of $220.6 million, and a negative impact from foreign exchange rates of $123.5 million. The net book-to-bill ratio was 1.19 in the quarter. 

Mr. Josef H. von Rickenbach, PAREXEL's Chairman and Chief Executive Officer stated, "I am pleased with our positive third quarter financial results which reflect a maturing backlog and a move into a more normalized project implementation environment.  Revenue growth was very strong, our profi
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SOURCE PAREXEL International Corporation
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