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PAREXEL International Reports Second Quarter Fiscal Year 2013 Results
Date:1/29/2013

ptive Informatics, Inc.

For the six months ended December 31, 2012, consolidated service revenue was $816.8 million versus $647.9 million in the prior year period, an increase of 26.1%.  GAAP operating income for the current six-month period was $61.2 million, or 7.5% of service revenue, compared with GAAP operating income of $35.0 million, or 5.4% of service revenue in the prior year period.  GAAP net income for the six months ended December 31, 2012 was $36.4 million, or $0.60 per diluted share, compared with GAAP net income of $22.5 million, or $0.37 per diluted share, in the prior year period.  Excluding the impact of special items as detailed in the attached financial charts in both six month periods, operating income was $61.9 million or 7.6% of consolidated service revenue for the six months ended on December 31, 2012, compared with $38.9 million or 6.0% of consolidated service revenue for the six months ended on December 31, 2011.  On an adjusted basis, net income for the six months ended December 31, 2012 was $42.0 million, or $0.69 per diluted share, compared with $25.6 million or $0.43 per diluted share in the comparable prior year six month period.

Backlog at the end of December 2012 was approximately $4.54 billion, an increase of 21.4% year-over-year.  The reported backlog included gross new business wins in the quarter of $719.8 million, backlog of $14.1 million related to the acquisition of Liquent, cancellations of $274.5 million, and a negative impact from foreign exchange rates of $29.5 million. The net book-to-bill ratio was 1.06 in the quarter. 

Mr. Josef H. von Rickenbach, PAREXEL's Chairman and Chief Executive Officer stated, "During the second quarter we delivered robust revenue growth, achieved our short-term operating margin target, further reduced days sales outstanding, and generated strong operating cash flow.  We achieved these results despite a high level of hiring and continued e
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SOURCE PAREXEL International Corporation
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