He continued, "Looking into the future, I am confident about the prospects for PAREXEL. We believe the overall market for our services remains healthy, and our differentiated product and service offerings continue to be well received by clients. The investments that we have made over the years are paying off, and I believe that we have the talent, resources, and infrastructure in place to continue to succeed in the evolving CRO marketplace. We remain committed to our goal of achieving Fiscal Year 2013 earnings per share growth in the range of 44% to 48%, driven by continued revenue growth, effective cost management, margin expansion, and the previously announced stock buyback."
The Company issued forward-looking guidance for the fourth quarter of Fiscal Year 2013 (ending June 30, 2013), for Fiscal Year 2013, and for Calendar Year 2013 as described in the text and chart below. The guidance takes into account the acquisition of the HERON Group Limited ("HERON"), recent exchange rates, revised tax rates, the estimated impact of the stock buyback program, and the Company's updated overall outlook. For the fourth quarter of Fiscal Year 2013, HERON is expected to contribute between $3.0 and $4.0 million in service revenue, and to contribute between $11.0 and $14.0 million for Calendar Year 2013. The impact of the HERON acquisition is expected to be neutral to earnings for the remainder of Calendar Year 2013. Excluding the amortization of intangibles and certain other costs
|SOURCE PAREXEL International Corporation|
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