- Consolidated service revenue of $245.3 million grows 28% year-over-year
- Diluted earnings per share in the quarter were $0.25 - Backlog increases approximately 37% year-over-year to $1.9 billion; net
quarterly book-to-burn ratio equates to 1.52
BOSTON, April 23 /PRNewswire-FirstCall/ -- PAREXEL International Corporation (Nasdaq: PRXL) today announced its financial results for the third quarter and nine months ended March 31, 2008. The past and current period results reflect a two-for-one stock split which occurred on March 3, 2008.
For the three months ended March 31, 2008, PAREXEL's consolidated service revenue increased 28.3% to a record $245.3 million, compared with $191.2 million in the prior year period. The Company reported operating income of $22.7 million, or 9.3% of consolidated service revenue, in the third quarter of Fiscal Year 2008, versus operating income of $15.5 million, or 8.1% of consolidated service revenue, in the comparable quarter of the prior year. This represented a year-over-year increase of 46.8%. Included in these results was a favorable pre-tax restructuring benefit of $860,000 in the third quarter of Fiscal Year 2008, as noted in the financial charts contained within this press release. Net income for the quarter totaled $14.2 million, or $0.25 per diluted share, compared with net income of $10.8 million, or $0.19 per diluted share for the quarter ended March 31, 2007, an increase of 31.6%.
On a segment basis, consolidated service revenue for the third quarter
of Fiscal Year 2008 consisted of $191.5 million in Clinical Research
Services (CRS), $33.5 million in PAREXEL Consulting and Medical
Communications (PCMS), and $20.3 million in Perceptive Informatics,
|SOURCE PAREXEL International Corporation|
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