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PAREXEL International Reports Fourth Quarter and Fiscal Year 2011 Results
Date:8/9/2011

ent year increased by 17.4%, and earnings per diluted share increased by 14.1%.  On an adjusted basis, excluding the special items noted in the attached financial charts in both periods, net income for the twelve months ended June 30, 2011 was $56.9 million, or $0.95 per diluted share, compared with $63.5 million, or $1.08 per diluted share, in the comparable prior year twelve-month period.  Using adjusted numbers in both periods, adjusted net income in the current quarter declined by 10.4%, and adjusted earnings per diluted share declined by 12.0%.  

Consolidated service revenue for Fiscal Year 2011 was $922.8 million in CRS, $129.7 million in PCMS, and $159.5 million in Perceptive.

The Company reported a Fiscal Year 2011 ending backlog of $3.44 billion, an increase of 28.5% over the ending backlog reported for Fiscal Year 2010, and an increase of 8% from the third quarter of Fiscal Year 2011.  The reported backlog included gross new business wins in the quarter of $675.1 million, cancellations of $107.2 million, and a negative impact from foreign exchange rates of $1.7 million.  The net book-to-bill ratio was 1.83 for the quarter, and was 1.51 for Fiscal Year 2011 overall.

Mr. Josef H. von Rickenbach, PAREXEL’s Chairman and Chief Executive Officer, stated, “The results of the fourth quarter generally met our expectations, and we were especially pleased with our strong new business results.  We were excited to see an uptick in activity from clients in the small and emerging biopharma segment in the quarter, and we expect to continue to win our fair share in this market segment going forward.  For the Company overall, I believe that the groundwork that we laid in Fiscal Year 2011 has created a solid foundation for our future.  We have been building a Company based on robust processes and systems, which we believe affords us long-term sustainable advantages that enable us to deliver strong retu
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SOURCE PAREXEL International Corporation
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