BOSTON, Sept. 8 /PRNewswire-FirstCall/ -- PAREXEL International Corporation (Nasdaq: PRXL), a leading global biopharmaceutical services organization, today updated its forward-looking financial guidance for the first quarter of Fiscal Year 2009 (ending September 30, 2008) and for the full Fiscal Year, in conjunction with the successful completion of the acquisition of ClinPhone Plc and other factors discussed herein.
Josef von Rickenbach, Chairman and Chief Executive Officer of PAREXEL stated, "We are very pleased to have completed the acquisition of ClinPhone, which enhances our eClinical platform. Information technology is increasingly utilized in clinical development, and we believe the products and services that ClinPhone adds to the portfolio of Perceptive Informatics, our technology segment, will enable us to better meet the needs of our clients."
PAREXEL has increased its forward-looking service revenue guidance for
the first quarter and Fiscal Year as a result of the positive contributions
from the ClinPhone acquisition and a slightly better operating performance,
which has been somewhat offset by the negative impact of recent exchange
rate movements associated with a much stronger dollar. Including these
factors, the Company anticipates reporting consolidated service revenue in
the range of $270 to $280 million for the first quarter of Fiscal Year
2009, and consolidated service revenue in the range of $1.215 to $1.245
billion for Fiscal Year 2009 in its entirety. Of the increase, the
ClinPhone acquisition is expected to contribute $10 - $14 million in
service revenue in the first quarter, and between $95 and $105 million in
service revenue during Fiscal Year 2009. Previously issued consolidated
service revenue guida
|SOURCE PAREXEL International Corporation|
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