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PAREXEL International Updates Financial Guidance in Conjunction With the Acquisition of ClinPhone Plc and Other Factors
Date:9/8/2008

nce, not including ClinPhone, was $260 to $270 million for the first quarter, and for the Fiscal Year was $1.125 to $1.155 billion.

As previously reported, the ClinPhone acquisition is expected to have a dilutive effect on earnings per share in the range of $0.04 to $0.06 for FY 2009, including the amortization of intangibles and other costs, with $0.01 to $0.02 cents of that amount being recorded in the first quarter. Excluding the amortization of intangibles and other costs, the acquisition is accretive. Beyond the impact from ClinPhone, the estimated negative impact of the recent sharp movements in foreign exchange rates on earnings per share has been essentially offset by somewhat better operating performance. As previously reported, the Company will also incur a one-time charge of approximately $0.02 cents per diluted share during the first quarter in conjunction with the write-off of unamortized loan fees and the unwinding of interest rate hedges related to the Company's previous credit line. Taking into account all of the afore-mentioned factors, PAREXEL now anticipates reporting diluted earnings per share on a GAAP basis in the range of $0.20 to $0.21 for the first quarter, and diluted earnings per share in the range of $1.09 to $1.17 for the Fiscal Year. Previously issued diluted earnings per share guidance, not including ClinPhone or the one-time charge, was in the range of $0.23 to $0.25 for the first quarter and in the range of $1.15 to $1.25 for the Fiscal Year.

A conference call to discuss PAREXEL's acquisition of ClinPhone and updated financial outlook will begin at 10:00 a.m. EDT tomorrow, Tuesday, September 9th and will be broadcast live over the Internet via webcast. The webcast may be accessed in the "Webcasts" portion of the Investor Relations section of the Company's website at http://www.PAREXEL.com. Users should follow the instructions provided to assure that the necessary audio
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SOURCE PAREXEL International Corporation
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