PAREXEL Updates Outlook; Expands Restructuring Program - Quick Facts

(RTTNews) - PAREXEL International Corp. (PRXL) announced the company now expects fiscal 2017 non-GAAP EPS in a range of $3.17 - $3.31 compared to prior range of $3.15 - $3.43. Revenue is targeted to be in the range of $2.09 - $2.11 billion compared to prior outlook range of $2.08 - $2.12 billion.

Josef von Rickenbach, CEO of PAREXEL stated: "In response to revenue shortfalls earlier in this fiscal year, we are right-sizing the organization. In January, we announced a restructuring program, and we are now expanding that program. All in, we expect total annual savings of $75-85 million from our restructuring activities in Fiscal Year 2018. We remain committed to our longer-term goal of 14-16% adjusted operating margin."