PAREXEL Reports Second Quarter Fiscal Year 2008 Financi... ( Second Quart...)

PAREXEL Reports Second Quarter Fiscal Year 2008 Financial Results

Date:1/23/2008

Second Quarter Highlights: - Consolidated service revenue of $238.7 million grows 32% year-over-year - Operating income increases 47.7%, diluted earnings per share grow 25%

- Backlog increases 41% to a record of $1.8 billion

- Net quarterly book-to-burn ratio equates to 1.9

BOSTON, Jan. 23 /PRNewswire-FirstCall/ -- PAREXEL International Corporation (Nasdaq: PRXL) today announced its financial results for the second quarter ended December 31, 2007.

For the three months ended December 31, 2007, PAREXEL's consolidated service revenue increased 32.2% to a record $238.7 million, compared with $180.5 million in the prior year period. The Company reported operating income of $20.5 million, or 8.6% of service revenue, versus operating income of $13.9 million, or 7.7% of service revenue, in the comparable quarter of the prior year. Net income for the quarter totaled $11.5 million, or $0.40 per diluted share, compared with net income of approximately $9.1 million, or $0.32 per diluted share, for the quarter ended December 31, 2006, representing earnings per share growth of 25%.

On a segment basis, consolidated service revenue for the second quarter of Fiscal Year 2008 was $182.7 million in Clinical Research Services (CRS), $32.5 million in PAREXEL Consulting and Medical Communications Services (PCMS), and $23.4 million in Perceptive Informatics, Inc.

PAREXEL's backlog increased approximately 41% year-over-year, and 13% sequentially, to $1.778 billion at the end of the December quarter. As of September 30, 2007, PAREXEL's backlog totaled $1.570 billion. Adding the December quarter's gross new business wins of $486.8 million to that amount, and subtracting $238.7 million
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PAREXEL Reports Second Quarter Fiscal Year 2008 Financi...( Second Quart...)