PAREXEL International Corp. Reports Operating Results (10-K/A)

Author's Avatar
Sep 09, 2010
PAREXEL International Corp. (PRXL, Financial) filed Amended Annual Report for the period ended 2010-06-30.

Parexel International Corp. has a market cap of $1.2 billion; its shares were traded at around $20.6 with a P/E ratio of 19.3 and P/S ratio of 1. Parexel International Corp. had an annual average earning growth of 16.4% over the past 10 years. GuruFocus rated Parexel International Corp. the business predictability rank of 4-star.PRXL is in the portfolios of Edward Owens of Vanguard Health Care Fund, Chuck Royce of Royce& Associates, Bruce Kovner of Caxton Associates, Pioneer Investments, Jim Simons of Renaissance Technologies LLC, Kenneth Fisher of Fisher Asset Management, LLC, George Soros of Soros Fund Management LLC.

Highlight of Business Operations:

The aggregate market value of common stock, $.01 par value per share, held by non-affiliates as of December 31, 2009 was approximately $796.5 million based on the closing price of the registrants Common Stock as reported on the Nasdaq Global Select Market on December 31, 2009, the last business day of the registrants most recently completed second fiscal quarter. The registrant has assumed that all holders of 10% or more of its Common Stock, if any, are affiliates solely for purposes of calculating the aggregate market value of Common Stock held by non-affiliates. As of August 22, 2010 there were 58,484,834 shares of common stock, $.01 par value per share, outstanding.

Our CRS business segment provides clinical trials management and biostatistics, data management and clinical pharmacology, as well as related medical advisory and investigator site services. This segment generated revenue of $870.7 million, or 77.0%, of our consolidated service revenue in Fiscal Year 2010, $804.2 million, or 76.5%, of our consolidated service revenue in Fiscal Year 2009, and $745.6 million, or 77.3%, of our consolidated service revenue in Fiscal Year 2008.

Our PCMS segment provides technical expertise and advice in such areas as drug development, regulatory affairs, reimbursement, and GMP compliance. It also provides a full spectrum of market development, product development, and targeted communications services in support of product launch. Our PCMS consultants identify alternatives and propose solutions to address client issues associated with product development, registration, and commercialization. Our PCMS unit also provides RMA consulting services. Service revenue from the PCMS business segment represented $121.6 million, or 10.8%, of consolidated service revenue in Fiscal Year 2010, $121.8 million, or 11.6%, of consolidated service revenue in Fiscal Year 2009, and $129.8 million, or 13.5%, of consolidated service revenue in Fiscal Year 2008. We conduct our PCMS operations through four groups:

Our Perceptive segment provides information technology solutions designed to improve the product development processes of our clients. Perceptives portfolio of products and services include medical imaging services, ClinPhone RTSM, CTMS, EDC, web-based portals, systems integration, and patient diary applications. Service revenue from the Perceptive business represented $138.7 million, or 12.2%, of consolidated service revenue in Fiscal Year 2010, $124.7 million, or 11.9%, of consolidated service revenue in Fiscal Year 2009, and $88.8 million, or 9.2%, of consolidated service revenue in Fiscal Year 2008.

Read the The complete Report