PPD Updates 2007 Forecast; Issues Financial Guidanc... ( Highl...)

PPD Updates 2007 Forecast; Issues Financial Guidance for 2008

Date:1/8/2008

Highlights:

- Net revenue projected to grow 20 percent in 2008

- Discovery sciences forecast includes $40.0 million in anticipated

milestones for the DPP-4 program with Takeda

- EPS expected to grow 36 percent in 2008

WILMINGTON, N.C., Jan. 8 /PRNewswire-FirstCall/ -- PPD, Inc. (Nasdaq: PPDI) today updated its existing 2007 guidance and reported its projected financial guidance for 2008.

PPD anticipates that net revenue, excluding reimbursed out-of-pocket expenses, for the full year 2007 will be in range of $1.295 to $1.310 billion, which is within its previously forecasted net revenue range. Earnings per diluted share for the fourth quarter of 2007 are expected to be in the range of $0.33 to $0.35, resulting in full year 2007 earnings per diluted share of $1.36 to $1.38, all of which are also within PPD's previous guidance.

For 2008, net revenue, excluding reimbursed out-of-pocket expenses, is expected to be in the range of $1.535 to $1.590 billion, an increase of 20 percent compared to our revised 2007 net revenue forecast. Earnings per diluted share for the full year 2008 are expected to be in the range of $1.82 to $1.92. The quarterly 2008 earnings per diluted share are expected to be in the following ranges: Q1 - $0.42 to $0.44; Q2 - $0.39 to $0.41; Q3 - $0.42 to $0.45; Q4 - $0.59 to $0.62.

The following table shows the updated full year net revenue and earnings per diluted share guidance by segment and total company for 2007, and the projected net revenue and earnings forecast by segment and total company for 2008:

Previous 2007 Revised 2007 2008

Guidance Guidance Guidance

Net revenue(1)

Development $1,272 - $1,320 $1,275 - $1,290 $1,475 - $1,525

Discovery sciences 18 - 20 20 60
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