PAREXEL Reports First Quarter Fiscal Year 2008 Financi...( BOSTON Oct. 24 /- First Quarte...)

BOSTON, Oct. 24 /PRNewswire-FirstCall/ --

First Quarter Highlights:

- Consolidated revenue of $208.1 million grows 26% year-over-year

- Diluted EPS up 40% to $0.35 year-over-year, excluding a favorable

benefit of $0.14 related to one-time non-U.S. net tax adjustments

PAREXEL International Corporation (Nasdaq: PRXL) today announced its financial results for the first quarter ended September 30, 2007.

For the three months ended September 30, 2007, PAREXEL's consolidated service revenue increased 26.1% to $208.1 million compared with $165.1 million in the prior year period. The Company reported operating income of $16.5 million, or 7.9% of service revenue, versus operating income of $11.3 million, or 6.9% of service revenue, in the comparable quarter of the prior year. Net income for the quarter totaled $13.9 million, or $0.49 per diluted share, compared with net income of approximately $7.0 million, or $0.25 per diluted share, for the quarter ended September 30, 2006, representing earnings per share growth of 96%. Excluding one-time non-U.S. net tax adjustments of $4.0 million or $0.14 per diluted share, related in part to a recent change in German tax rates, net income and earnings per diluted share would have been $9.9 million (up 42%) and $0.35 (up 40%), respectively.

On a segment basis, consolidated service revenue for the first quarter of Fiscal Year 2008 was $159.3 million in Clinical Research Services (CRS), $30.5 million in PAREXEL Consulting and Medical Communications Services (PCMS), and $18.3 million in Perceptive Informatics, Inc.

The Company has made certain reclassifications to the financial results for Fiscal Year 2007 to conform to Fiscal Year 2008 pr
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