parexel international corp (PRXL) Key Developments
PAREXEL International Corporation Announces Enhancements to its Randomisation and Trial Supply Management Service, Clinphone RTSM
May 27 15
PAREXEL International Corporation announced enhancements to its Randomisation and Trial Supply Management (RTSM) service, ClinPhone RTSM. PAREXEL designed the enhanced service to simplify patient randomisation and clinical supply management and to offer greater speed and flexibility in tailoring the service to meet the needs of clinical trials while reducing delivery timelines. For the improvements, PAREXEL integrated the interactive response technology acquired from ClinIntel in October 2014 with PAREXEL's experience in delivering RTSM services to thousands of studies to create an enhanced fourth-generation technology platform. Enhancements to the ClinPhone RTSM service that will benefit the customers include: Speed and efficiency: typically ready for use in four to eight weeks, cutting weeks off the standard system delivery time; Configuration and customisation: quickly tailored to meet the demands of different phases of clinical development, local regulators, regional requirements, and client or protocol specific needs; and Adaptability: rapid turnaround and minimal timeline disruption for study changes before or during the trial.
PAREXEL International Seeks Acquisitions
Apr 30 15
PAREXEL International Corporation (NasdaqGS:PRXL) is seeking acquisitions. Josef von Rickenbach, PAREXEL's Chairman & Chief Executive Officer, said "Generally, we are striving to have an efficient balance sheet and -- but right now, as I would say compared to a few years ago, we are more focused on M&A, and as you know, we just closed this deal, but overall we are looking at the overall picture all the time and we will continue to make sure that our capital deployment and our capital structure stays efficient."
PAREXEL International Corporation Reports Consolidated Unaudited Financial Results for the Third Quarter and Nine Months Ended March 31, 2015; Provides Earnings Guidance for the Fourth Quarter and Full Year of Fiscal 2015
Apr 29 15
PAREXEL International Corporation reported consolidated unaudited financial results for the third quarter and nine months ended March 31, 2015. For the three months ended March 31, 2015 PAREXEL's consolidated service revenue increased by 2.0% to $502.0 million compared with $492.4 million in the prior year period. Revenue grew 5.1% on a constant currency basis, excluding the negative impact of foreign currency exchange rate movements of $15.4 million. Operating income as reported under Generally Accepted Accounting Principles (GAAP) totaled $54.2 million, or 10.8% of service revenue, in the third quarter of fiscal year 2015, as compared with $52.2 million, or 10.6% of service revenue, in the comparable quarter of the prior year. GAAP net income for the quarter totaled $37.7 million, or $0.68 per diluted share, compared with GAAP net income of $34.7 million, or $0.60 per diluted share for the quarter ended March 31, 2014. GAAP diluted earnings per share grew 13.3% year-over-year. Adjusted operating income in the third quarter of Fiscal Year 2015 was $54.1 million, or 10.8% of service revenue. Adjusted operating income in the third quarter of Fiscal Year 2014 was $53.2 million, or 10.8% of service revenue. Adjusted net income was $36.9 million, or $0.66 per diluted share in the quarter ended March 31, 2015, and was $32.3 million, or $0.56 per diluted share in the quarter ended March 31, 2014. Adjusted diluted earnings per share grew 17.9% year-over-year. Income from operations was $54.229 million against $52.171 million a year ago. Income before income taxes was $53.723 million against $49.807 million a year ago. Operational cash flow for the quarter was breakeven, driven by an increase of DSO to 38 days, which bounced back from an exceptionally low level in its December quarter. CapEx for the quarter was $22 million, in line with plans. Free cash flow for the March quarter was an outflow of approximately $22 million. Net debt came in at approximately $99 million, up sequentially as it used part of its revolving credit lines to fund higher working capital needs in the quarter.
For the nine months ended March 31, 2015, consolidated service revenue was $1.493 billion versus $1.429 billion in the prior year period, an increase of 4.5%. GAAP operating income for the current nine-month period was $160.6 million, or 10.8% of service revenue, compared with GAAP operating income of $140.7 million, or 9.8% of service revenue in the prior year period. GAAP net income for the nine months ended March 31, 2015 was $113.6 million, or $2.04 per diluted share, compared with GAAP net income of $89.0 million, or $1.55 per diluted share, in the prior year period. GAAP diluted earnings per share grew 31.6% year-over-year. Adjusted operating income was $159.9 million or 10.7% of consolidated service revenue for the nine months ended on March 31, 2015, compared with $142.9 million or 10.0% of consolidated service revenue for the nine months ended on March 31, 2014. Adjusted net income for the nine months ended March 31, 2015 was $111.6 million, or $2.00 per diluted share, compared with $87.3 million or $1.52 per diluted share in the comparable prior year nine month period. Adjusted diluted earnings per share grew 31.6% year-over-year. Income from operations was $160.593 million against $140.716 million a year ago. Income before income taxes was $162.795 million against $131.680 million a year ago.
The company provided earnings guidance for the fourth quarter and full year of fiscal 2015. For the quarter, the company expects revenues to be in the range of $520 million- $540 million, GAAP EPS was $0.65 - $0.81.
For the year, the company expects revenues to be in the range of $2.012 billion- $2.032 billion, GAAP EPS was $2.68 - $2.86 per share, non-GAAP EPS was $2.65 - $2.83 per share.
PAREXEL International Corporation Presents at UBS Global Healthcare Conference, May-18-2015 11:30 AM
Apr 21 15
PAREXEL International Corporation Presents at UBS Global Healthcare Conference, May-18-2015 11:30 AM. Venue: Sheraton New York Times Square Hotel, 811 Seventh Avenue, New York, New York, United States. Speakers: Ingo Bank, Chief Financial Officer and Senior Vice President.
PAREXEL International Corporation Launches LIQUENT InSight 6.0. Regulatory Information Management Platform
Mar 31 15
PAREXEL International Corporation announced that it has introduced the latest version of its Regulatory Information Management platform: LIQUENT InSight 6.0. The LIQUENT InSight platform supports the entire regulatory product lifecycle, from early planning of registration targets through product retirement, with robust submission planning, publishing, viewing and registration management capabilities. Enhancements to the LIQUENT InSight platform include: Business Intelligence: added robust analytics to enhance reporting capabilities; Usability: simplified interface designed by usability experts provide an intuitive experience to all levels of InSight users; Compliance: updated data model and architecture helps to ensure processes, output and work product compliance with standards such as XEVMPD and the upcoming IDMP mandate; and Interoperability: revamped interoperability web services features that help systems interact and communicate with each other.