PAREXEL Int'l Q3 Adj. Profit Tops View; Lifts FY14 Outlook - Quick Facts

(RTTNews) - PAREXEL International Corp. (PRXL) Tuesday reported third-quarter net income of $34.7 million or $0.60 per share, up from $29.5 million or $0.50 per share in the same period last year.

Adjusted earnings for the quarter rose to $32.3 million or $0.56 per share from $29.5 million or $0.50 per share in the previous year period. On average, 14 analysts polled by Thomson Reuters expected the company to earn $0.54 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased to $577.92 million from $523.45 million last year. Analysts expected revenues of $493.35 million.

Looking ahead to the fourth quarter, the company has forecast earnings in the range of $0.59 to $0.63 per share, with revenues in the order of $507 million to $513 million. Analysts currently expect the company to earn $0.56 per share on revenues of $500.27 million.

For the fiscal year 2014, the company now expects earnings in the range of $2.13 to $2.17 per share, adjusted earnings in the order of $2.11 to $2.15 per share and revenues in a range of $1.936 billion to $1.942 billion. Analysts currently expect the company to report full-year earnings of $2.06 per share on revenues of $1.93 billion.

Earlier, the company projected earnings in the range of $1.99 to $2.09 per share, adjusted earnings in the order of $2.01 to $2.11 per share and revenues in a range of $1.920 billion to $1.930 billion.