PAREXEL Q4 Results Top Estimates

(RTTNews) - PAREXEL International Corp. (PRXL) reported net income for the fourth quarter of $40.1 million or $0.70 per share, compared to $30.0 million or $0.52 per share for the year-ago quarter.

Excluding items, adjusted net income for the fourth quarter was $37.5 million or $0.65 per share, compare to $29.0 million or $0.50 per share in the same quarter last year.

PAREXEL's service revenue for the fourth quarter increased 10.2% to $510.6 million from $463.1 million in the prior year period.

Analysts polled by Thomson Reuters expected the company to earn $0.62 per share on revenue of $508.99 million for the fourth quarter.

Looking forward to the first quarter, the company forecasts revenue of $497 million to $503 million and earnings of $0.55 to $0.59 per share. Analysts currently expect the company to earn $0.57 per share on revenue of $494.86 million for the first quarter.

For the fiscal year 2015, the company now forecasts revenue of $2.13 billion to $2.15 billion and earnings of $2.57 to $2.75 per share. Previously, the company forecast revenue of $2.12 billion to $2.15 billion and earnings of $$2.51 to $2.75 per share. Analysts currently expect the company to earn $2.67 per share on revenue of $2.13 billion for the fiscal year 2015.