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PAREXEL Reports First Quarter Fiscal Year 2009 Financial Results
Date:10/27/2008

- Year-over-year service revenue growth of 26.4%

- GAAP diluted earnings per share of $0.23

BOSTON, Oct. 27 /PRNewswire-FirstCall/ -- PAREXEL International Corporation (Nasdaq: PRXL) today announced its financial results for the first quarter ended September 30, 2008.

For the three months ended September 30, 2008, PAREXEL's consolidated service revenue increased 26.4% to $263.0 million compared with $208.1 million in the prior year period. The Company reported operating income of $22.0 million, or 8.4% of consolidated service revenue, in the first quarter of Fiscal Year 2009, versus operating income of $16.5 million, or 7.9% of consolidated service revenue, in the comparable quarter of the prior year. Net income for the quarter totaled $13.6 million, or $0.23 per diluted share, compared with net income of $13.9 million, or $0.24 per diluted share, for the quarter ended September 30, 2007. Excluding prior period net tax adjustments of $4.0 million or $0.07 per diluted share, net income and earnings per diluted share in the quarter ended September 30, 2007 were $9.9 million and $0.17, respectively. On an adjusted basis, excluding such tax adjustment, net income was up 37.8% and EPS increased 35.3%.

On a segment basis, consolidated service revenue for the first quarter of Fiscal Year 2009 was $202.8 million in Clinical Research Services (CRS), $30.1 million in PAREXEL Consulting and Medical Communications Services (PCMS), and $30.1 million in Perceptive Informatics, Inc.

Backlog at the end of September was $2.061 billion. The reported backlog included gross new business wins of $347 million, an increase in backlog of $117 million related to the ClinPhone acquisition, cancellations of a
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SOURCE PAREXEL International Corporation
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