PAREXEL Int'l Q1 Profit Meets Estimate; Backs FY14 Outlook

(RTTNews) - PAREXEL International Corp. (PRXL) Tuesday reported first-quarter profit of $26.0 million or $0.45 per share, compared to $15.1 million, or $0.25 per share in the same period last year.

Adjusted earnings for the quarter were $25.8 million or $0.45 per share, up from $17.5 million, or $0.29 per share in the previous year quarter. On average, 13 analysts polled by Thomson Reuters expected the company to earn $0.45 per share for the quarter. Analysts' estimates typically exclude special items.

Service revenue increased 13.8 percent to $449.25 million from $394.75 million last year, while 12 analysts expected revenues of $458.94 million.

Looking ahead to the second-quarter, the company has forecast earnings in the range of $0.46 to $0.50 per share, with revenues in the order of $475 million to $480 million. Analysts currently expect the company to earn $0.48 per share on revenues of $471.70 million for the second quarter.

For the fiscal 2014 the company continues to expect earnings to be in the range of $1.95 to $2.11 per share and revenues to range between $1.89 billion and $1.92 billion. Analysts currently expect the company to report full-year earnings of $2.04 per share on revenues of $1.92 billion.