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PAREXEL Issues Updated Financial And Operational Information
Date:1/11/2010

BOSTON, Jan. 11 /PRNewswire-FirstCall/ -- PAREXEL International Corporation (Nasdaq: PRXL) today raised its financial guidance expectations for the second quarter of Fiscal Year 2010 ended December 31, 2009, and for the full Fiscal Year 2010 ending June 30, 2010. The Company's updated financial guidance takes into account the projected impact from second quarter new business wins and cancellations, revised expectations for the amount and timing of a previously announced restructuring charge, and the impact of recent foreign exchange rates.

PAREXEL is in the process of consolidating its financial results for the second quarter ended December 31, 2009, and now expects to report consolidated service revenue in the range of $280 to $285 million, and earnings per diluted share under Generally Accepted Accounting Principles (GAAP), in the range of $0.06 to $0.08. The Company's adjusted guidance for earnings per diluted share is a range of $0.21 to $0.23 for the second quarter. Adjusted earnings exclude the impact of restructuring and related charges, of which approximately $15 million, or $0.15 per share, is expected to be recognized in the second quarter. (Previously issued guidance for the second quarter was for service revenue in the range of $275 to $280 million, a GAAP loss per diluted share in the range of $0.09 to $0.11, and adjusted earnings per diluted share, excluding restructuring and related charges, of $0.19 to $0.21). These are preliminary estimates only, as the Company has not yet finalized its financial reporting for the second quarter ended December 31, 2009.

The Company's expectations are that the previously announced restructuring and related charges will continue to be in the $30 million range in total, with approximately $15 million of the charge being recorded in the second quarter, and the
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SOURCE PAREXEL International Corporation
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