PAREXEL International Corp. (PRXL, Financial) filed Quarterly Report for the period ended 2010-12-31.
Parexel International Corp. has a market cap of $1.38 billion; its shares were traded at around $21.2 with a P/E ratio of 20.4 and P/S ratio of 1.2. Parexel International Corp. had an annual average earning growth of 18.6% over the past 10 years. GuruFocus rated Parexel International Corp. the business predictability rank of 5-star.Hedge Fund Gurus that owns PRXL: Jim Simons of Renaissance Technologies LLC, Kenneth Fisher of Fisher Asset Management, LLC, Steven Cohen of SAC Capital Advisors. Mutual Fund and Other Gurus that owns PRXL: Edward Owens of Vanguard Health Care Fund, Chuck Royce of Royce& Associates, Chuck Royce of Royce& Associates, Pioneer Investments, Jeremy Grantham of GMO LLC.
On a segment basis, CRS service revenue increased by $9.8 million, or 4.4%, to $231.4 million for the three months ended December 31, 2010 from $221.6 million for the three months ended December 31, 2009. The increase was attributable to strong performance in all of our CRS business lines, including a $1.2 million increase in our Early Phase business and a $12.2 million increase in Phase II-III/PACE; partly offset by approximately $3.6 million related to the negative impact of foreign currency fluctuations. The growth is a result of successful sales efforts over the past twelve months and the continued positive impact of strategic partnerships.
PCMS service revenue increased by $2.3 million, or 7.7%, to $32.0 million for the three months ended December 31, 2010 from $29.7 million for the same period in 2009. The increase was due primarily to a $2.8 million growth in our compliance-related consulting services.
Perceptive service revenue increased by $7.6 million, or 22.6%, to $41.0 million for the three months ended December 31, 2010 from $33.4 million for the three months ended December 31, 2009. The increase was due primarily to a $4.3 million increase in our RTSM business and a $2.6 million increase in Medical Imaging; partly offset by the $0.6 million negative impact of foreign currency fluctuations. The growth in Perceptive is due to increasing usage of technology in conjunction with clinical trials.
On a segment basis, CRS direct costs increased by $12.8 million, or 9.0%, to $154.5 million for the three months ended December 31, 2010 from $141.8 million for the three months ended December 31, 2009. This increase resulted from higher levels of project activity and increased labor costs, partially offset by the $2.0 million positive impact of foreign exchange rate fluctuations. As a percentage of service revenue, CRS direct costs increased to 66.8% for the three months ended December 31, 2010 from 64.0% for the three months ended December 31, 2009 due primarily to increased headcount. In this regard, we had a resource imbalance as a result of project delays and a slower-than-expected ramp up of revenue from strategic partnership-related projects.
PCMS direct costs were essentially flat at $19.1 million for the three months ended December 31, 2010 and $19.2 million for the three months ended December 31, 2009. A $1.0 million decrease in Medical Communications and other business lines (due to lower levels of business activity) and $0.3 million related to the positive impact of foreign currency fluctuations were
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Parexel International Corp. has a market cap of $1.38 billion; its shares were traded at around $21.2 with a P/E ratio of 20.4 and P/S ratio of 1.2. Parexel International Corp. had an annual average earning growth of 18.6% over the past 10 years. GuruFocus rated Parexel International Corp. the business predictability rank of 5-star.Hedge Fund Gurus that owns PRXL: Jim Simons of Renaissance Technologies LLC, Kenneth Fisher of Fisher Asset Management, LLC, Steven Cohen of SAC Capital Advisors. Mutual Fund and Other Gurus that owns PRXL: Edward Owens of Vanguard Health Care Fund, Chuck Royce of Royce& Associates, Chuck Royce of Royce& Associates, Pioneer Investments, Jeremy Grantham of GMO LLC.
Highlight of Business Operations:
For the three months ended December 31, 2010, we had net income of $16.8 million compared with net income of $3.5 million for the three months ended December 31, 2009. On a fully diluted basis, earnings per share increased to $0.28 from $0.06 for the respective periods.On a segment basis, CRS service revenue increased by $9.8 million, or 4.4%, to $231.4 million for the three months ended December 31, 2010 from $221.6 million for the three months ended December 31, 2009. The increase was attributable to strong performance in all of our CRS business lines, including a $1.2 million increase in our Early Phase business and a $12.2 million increase in Phase II-III/PACE; partly offset by approximately $3.6 million related to the negative impact of foreign currency fluctuations. The growth is a result of successful sales efforts over the past twelve months and the continued positive impact of strategic partnerships.
PCMS service revenue increased by $2.3 million, or 7.7%, to $32.0 million for the three months ended December 31, 2010 from $29.7 million for the same period in 2009. The increase was due primarily to a $2.8 million growth in our compliance-related consulting services.
Perceptive service revenue increased by $7.6 million, or 22.6%, to $41.0 million for the three months ended December 31, 2010 from $33.4 million for the three months ended December 31, 2009. The increase was due primarily to a $4.3 million increase in our RTSM business and a $2.6 million increase in Medical Imaging; partly offset by the $0.6 million negative impact of foreign currency fluctuations. The growth in Perceptive is due to increasing usage of technology in conjunction with clinical trials.
On a segment basis, CRS direct costs increased by $12.8 million, or 9.0%, to $154.5 million for the three months ended December 31, 2010 from $141.8 million for the three months ended December 31, 2009. This increase resulted from higher levels of project activity and increased labor costs, partially offset by the $2.0 million positive impact of foreign exchange rate fluctuations. As a percentage of service revenue, CRS direct costs increased to 66.8% for the three months ended December 31, 2010 from 64.0% for the three months ended December 31, 2009 due primarily to increased headcount. In this regard, we had a resource imbalance as a result of project delays and a slower-than-expected ramp up of revenue from strategic partnership-related projects.
PCMS direct costs were essentially flat at $19.1 million for the three months ended December 31, 2010 and $19.2 million for the three months ended December 31, 2009. A $1.0 million decrease in Medical Communications and other business lines (due to lower levels of business activity) and $0.3 million related to the positive impact of foreign currency fluctuations were
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