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PAREXEL Reports First Quarter Fiscal Year 2012 Financial Results

in the section entitled “Risk Factors” of the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2011 as filed with the SEC on August 26, 2011, which “Risk Factors” discussion is incorporated by reference in this press release.  The Company specifically disclaims any obligation to update these forward-looking statements in the future.  These forward-looking statements should not be relied upon as representing the Company’s estimates or views as of any date subsequent to the date of this press release.CONTACTS:

James Winschel, Senior Vice President and Chief Financial OfficerJill Baker, Corporate Vice President, Investor Relations+1-781-434-4118PAREXEL International Corporation Consolidated Condensed Statement of OperationsUnauditedThree Months EndedThree Months Ended(in thousands, except per share data)September 30, 2011September 30, 2010As ReportedAdjustmentsNon-GAAPAs ReportedAdjustmentsNon-GAAPService revenue$
-$  314,735$
-$  295,820Reimbursement revenue45,91445,91446,43746,437  Total revenue360,649-360,649342,257-342,257Costs and expenses:Direct costs222,174222,174189,644

(a)189,644Reimbursable out-of-pocket expenses45,91445,91446,43746,437Selling, general and administrative 60,98960,98960,858

(a)60,858Depreciation14,28114,28113,25113,251Amortization2,1412,1412,4572,457Restructuring charge (benefit)2,700(2,700)




-  Total costs and expenses348,199(2,700)345,499312,257390312,647Income from operations12,4502,70015,15030,000(390)29,610Other (expense) income1,624-1,624(7,315)-(7,315)Income before income taxes14,0742,70016,77422,685(390)22,295Provision for income tax expense4,513533




4,784Effective tax rate32.1%30.1%21.6%21.5%Net income$

SOURCE PAREXEL International Corporation
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