PAREXEL's backlog increased 31.3% year-over-year, and 4.2% sequentially, to $1.570 billion at the end of the September quarter. As of June 30, 2007, PAREXEL's backlog totaled $1.507 billion. Adding the September quarter's gross new business wins of $349.5 million to that amount, and subtracting $208.1 million in current quarter service revenue and $78.0 million in cancellations, left the Company with a backlog of $1.570 billion as of September 30, 2007. The net book-to-burn ratio in the quarter was 1.31.
Mr. Josef H. von Rickenbach, PAREXEL's Chairman and Chief Executive Officer stated, "During the September quarter we continued to execute well, with year-over-year revenue growth of 26%, a 100 basis point improvement in operating margin, and normalized EPS growth of 40%. During the quarter we completed the acquisition of APEX International, which represents a major strategic accomplishment for the Company. The integration process is well underway, and we are confident that APEX will enable us to achieve our objectives, better serve clients, and solidify our global footprint in the rapidly growing Asia Pacific market."
Mr. von Rickenbach continued, "We believe that the market demand for our services remains solid. Going forward, we will continue to drive revenue growth, execute well on our projects, and further increase profitability so that we can deliver another successful year to our clients and shareholders."
The Company issued forward-looking guidance for the second quarter of
Fiscal Year 2008 (ending December 31, 2007), and for Fiscal Year 2008. For
|SOURCE PAREXEL International Corporation|
Copyright©2007 PR Newswire.
All rights reserved