Parexel Q3 Profit Rises

(RTTNews) - Parexel International Corp. (PRXL) Wednesday reported third-quarter net income of $37.7 million or $0.68 per share, up from $34.7 million or $0.60 per share last year.

Adjusted earnings for the quarter were $0.66 per share, up from $0.56 per share last year.

Total revenues dropped to $576.4 million from $577.9 million last year.

Analysts polled by Thomson Reuters expected earnings of $0.66 per share on revenue of $513.5 million for the quarter. Analysts' estimates typically exclude special items.

Looking forward to the fourth quarter, the company expects earnings of $0.65 to $0.81 per share on revenue of $520 million to $540 million. Analysts currently estimate earnings of $0.76 per share on revenues of $548.72 million.

For the full year 2015, the company now expects adjusted earnings of $2.65 to $2.83 per share and revenues of $2.012 billion to $2.032 billion. Analysts currently estimate earnings of $2.76 per share on revenues of $2.06 billion.

Earlier, the company expected revenues of $2.040 billion to $2.070 billion.