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May 26, 2015 3:58 AM ET

Life Sciences Tools and Services

Company Overview of PRA Health Sciences, Inc.

Company Overview

PRA Health Sciences, Inc., a contract research organization, provides various product development services for pharmaceutical and biotechnology companies worldwide. The company offers integrated services, such as data management, statistical analysis, clinical trial management, and regulatory and drug development consulting. Its services include a suite of product registration services, such as clinical trial management, project management, regulatory affairs, therapeutic expertise, clinical operations, data and programming, safety and risk management, biostatistics and medical writing, quality assurance, and late phase services. The company’s services also comprise strategic solutions, incl...

4130 ParkLake Avenue

Suite 400

Raleigh, NC 27612

United States

Founded in 1976

11,000 Employees

Phone:

919-786-8200

Fax:

919-786-8201

Key Executives for PRA Health Sciences, Inc.

Chairman, Chief Executive Officer and President
Age: 55
Total Annual Compensation: $1.1M
Chief Financial Officer, Executive Vice President and Secretary
Age: 56
Total Annual Compensation: $635.0K
Executive Vice President and Corporate Compliance Officer
Age: 53
Total Annual Compensation: $485.0K
Compensation as of Fiscal Year 2014.

PRA Health Sciences, Inc. Key Developments

PRA Health Sciences, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Year 2015

PRA Health Sciences, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company's service revenues were $332.0 million, which represents growth of 7%, or $20.6 million, compared to the first quarter of 2014 at actual foreign exchange rates. On a constant currency basis, service revenue grew $30.6 million, an increase of 10% compared to the first quarter of 2014. Reported EBITDA on a GAAP basis was $59.8 million, representing an increase of 99.3% compared to the first quarter of 2014. Adjusted EBITDA was $55.7 million for the three months ended March 31, 2015, representing growth of 40.3% compared to the first quarter of 2014. Reported GAAP net income was $17.2 million and reported GAAP diluted net income per share was $0.27 for the three months ended March 31, 2015, increases of 272% and 208%, respectively, when compared to the first quarter of 2014. Adjusted net income was $25.8 million for the three months ended March 31, 2015, representing growth of 190% compared to the first quarter of 2014. Adjusted net income per share was $0.41 for the three months ended March 31, 2015, representing growth of 86% compared to the first quarter of 2014. Income from operations was $32,937,000 against $10,724,000 a year ago. Net cash provided by operating activities was $3,406,000 against net cash used in operating activities $40,327,000 a year ago. Purchase of fixed assets was $7,610,000 against $5,784,000 a year ago. Adjusted income from operations was $50,614,000. For 2015, the company is updating its guidance taking into account the movement in current foreign exchange rates. As a result the company expects to achieve service revenues between $1.34 billion and $1.39 billion, diluted GAAP net income per share between $0.70 and $0.80 per share, diluted adjusted net income per share of $1.62 to $1.72 per share, and annual effective income tax rate estimates at approximately 30%.

PRA Health Sciences, Inc. Presents at UBS Global Healthcare Conference, May-19-2015 11:00 AM

PRA Health Sciences, Inc. Presents at UBS Global Healthcare Conference, May-19-2015 11:00 AM. Venue: Sheraton New York Times Square Hotel, 811 Seventh Avenue, New York, New York, United States. Speakers: Colin Shannon, Chairman, Chief Executive Officer and President.

PRA Health Sciences, Inc. to Report Q1, 2015 Results on May 06, 2015

PRA Health Sciences, Inc. announced that they will report Q1, 2015 results at 5:00 PM, Eastern Standard Time on May 06, 2015

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