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PAREXEL Reports First Quarter Fiscal Year 2011 Financial Results
Date:11/1/2010

BOSTON, Nov. 1, 2010 /PRNewswire-FirstCall/ -- PAREXEL International Corporation (Nasdaq: PRXL) today announced its financial results for the first quarter ended September 30, 2010.

For the three months ended September 30, 2010, PAREXEL's consolidated service revenue increased by 13.9% to $295.8 million, compared with $259.8 million in the prior year period.  Excluding the negative impact from foreign exchange movements of $7.7 million, revenue increased 16.8%.  The Company reported operating income of $30.0 million, or 10.1% of consolidated service revenue, in the first quarter of Fiscal Year 2011, versus operating income of $18.5 million, or 7.1% of consolidated service revenue, in the comparable quarter of the prior year.  Net income for the current quarter totaled $17.8 million, or $0.30 per diluted share, compared with net income of $12.4 million, or $0.21 per diluted share, for the quarter ended September 30, 2009.  On a segment basis, consolidated service revenue for the first quarter of Fiscal Year 2011 was $231.6 million in Clinical Research Services (CRS), $28.3 million in PAREXEL Consulting and Medical Communications Services (PCMS), and $35.9 million in Perceptive Informatics, Inc.

Backlog at the end of September was approximately $2.9 billion, an increase of 35.7% year-over-year.  The reported backlog included gross new business wins in the quarter of $586.6 million, cancellations of $149.2 million, and a positive impact from foreign exchange rates of $105.4 million. The net book-to-bill ratio was 1.48 in the quarter.

Mr. Josef H. von Rickenbach, PAREXEL's Chairman and Chief Executive Officer stated, "The results of the first quarter were strong.  We exceeded our earnings per share target as a result of a continued focus on cost control and a lower tax rate, despite the fact that certain project delays and cancellati
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SOURCE PAREXEL International Corporation
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