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PAREXEL Reports Fourth Quarter and Fiscal Year 2008 Financial Results
Date:8/6/2008

REXEL Consulting and Medical Communications Services (PCMS), and $26.9 million in Perceptive Informatics, Inc.

For the full fiscal year ended June 30, 2008, consolidated service revenue was $964.3 million versus $742.0 million in the prior year, a year-over-year increase of 30.0%. For Fiscal Year 2008, operating income was $86.7 million, or 9.0% of consolidated service revenue, compared with operating income of $57.6 million in Fiscal Year 2007, or 7.8% of consolidated service revenue. Net income for Fiscal Year 2008 was $64.6 million, or $1.12 per diluted share, compared with net income of $37.3 million, or $0.66 per diluted share, in Fiscal Year 2007.

On an adjusted basis, excluding a Q1 Fiscal Year 2008 non-U.S. net tax benefit of $4.0 million, related in part to a reduction in German tax rates; a Q3 Fiscal Year 2008 favorable pre-tax restructuring benefit of $860,000; and the Q4 Fiscal Year 2008 net tax adjustments described above of $8.7 million, operating income for the full Fiscal Year would have been $85.8 million, or 8.9% of consolidated service revenue (up 49.1% compared to the prior year), pretax income would have been $84.7 million, income taxes would have been $32.4 million (or 38.3% of pretax income), net income would have been $51.4 million (up 37.8% from one year ago), and diluted earnings per share would have been $0.89 (up 34.8% from the prior year). The Company has posted a spreadsheet of quarterly and full Fiscal Year 2008 results detailing these adjustments in the "Additional Financials" portion of the Investor Relations section at http://www.PAREXEL.com.

On a segment basis, consolidated service revenue for Fiscal Year 2008 was $745.7 million in CRS, $129.8 million in PCMS, and $88.8 million in Perceptive Informatics, Inc.

New business wins and backlog growth were strong in the fourth quarter. The Company reported a Fiscal Year 2008 ending backlog of $2.059 billion, a
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SOURCE PAREXEL International Corporation
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