Mr. Josef H. von Rickenbach, PAREXEL's Chairman and Chief Executive Officer stated, "The fourth quarter's financial results capped a strong fiscal year for PAREXEL. We posted record service revenue in the fourth quarter, and achieved full year service revenue growth of 30.0%, or approximately 19% on a same-store constant currency adjusted basis. All business segments contributed to the positive full-year results. We also delivered on our commitment to improve profitability, increasing operating margin to 9.9% in the quarter, and by 120 basis points to 9% for the full fiscal year, while concurrently making strategic investments to help meet our longer term goals. Notable improvements in the Perceptive Informatics and Medical Communications businesses, as well as significant leveraging of SG&A as a result of very strong service revenue growth in CRS, were the primary contributors to solid operating margin expansion during the Fiscal Year."
Mr. von Rickenbach continued, "We have clearly benefited from the
successful execution of our strategy to become a leading global provider of
complex clinical development services and technologies. Demand has been
driven by both large and small clients, an improving industry pipeline in
late stage development, and an increase in outsourcing penetration rates.
We move into the new fiscal year with good momentum, a strong and
diversified backlog, and a healthy business
|SOURCE PAREXEL International Corporation|
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