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PAREXEL Reports First Quarter Fiscal Year 2012 Financial Results
Date:10/31/2011

current and prior periods (which excludes the special items referenced above) was $11.7 million, or $0.20 per diluted share in the quarter ended September 30, 2011, and was $17.5 million, or $0.29 per diluted share in the quarter ended September 30, 2010.  Using adjusted numbers in both periods, adjusted net income in the current quarter declined by 33.0% year-over-year, and adjusted earnings per diluted share declined by 31.0%.

On a segment basis, consolidated service revenue for the first quarter of Fiscal Year 2012 was $235.4 million in Clinical Research Services (CRS), $35.6 million in PAREXEL Consulting and Medical Communications Services (PCMS), and $43.7 million in Perceptive Informatics, Inc.

Backlog at the end of September was approximately $3.61 billion, an increase of 23% year-over-year.  The reported backlog included gross new business wins in the quarter of $694.0 million, cancellations of $138.2 million, a negative impact from foreign exchange rates of $72.6 million, and a negative adjustment related to the disposition of a business of $5.1 million. The net book-to-bill ratio was 1.77 in the quarter.

Mr. Josef H. von Rickenbach, PAREXEL’s Chairman and Chief Executive Officer, stated, “During the first quarter, we continued to make progress toward achieving our operational and financial goals, as evidenced by sequential revenue growth and improved operating margins, helped by effective cost controls.  We also had another quarter of healthy new business wins.  We are pleased with our progress with respect to strategic partnerships, which are continuing to mature according to plan.  We have accelerated hiring to meet the current and future requirements of our clients.”

With regard to the future outlook for the Company, Mr. von Rickenbach commented, “We have built a solid foundation for the Company to support future growth.  Our employees are adapting to the rapidly evolving
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SOURCE PAREXEL International Corporation
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