PRA Health Sciences Reports Third Quarter 2016 Results And Updates 2016 Guidance
RALEIGH, N.C., Nov. 02, 2016 (GLOBE NEWSWIRE) -- PRA Health Sciences, Inc. (“PRA” or the “Company”) (NASDAQ:PRAH) today reported financial results for the quarter ended September 30, 2016.
For the three months ended September 30, 2016, service revenue was $399.8 million, which represents growth of 15.9%, or $54.7 million, compared to the third quarter of 2015 at actual foreign exchange rates. On a constant currency basis, service revenue grew $55.3 million, an increase of 16.0% compared to the third quarter of 2015.
Net new business for the quarter ended September 30, 2016 was $519.1 million, representing a net book-to-bill ratio of 1.30 for the period. This net new business contributed to an ending backlog of $2.8 billion at September 30, 2016.
For the three months ended September 30, 2016, service revenue was $399.8 million, which represents growth of 15.9%, or $54.7 million, compared to the third quarter of 2015 at actual foreign exchange rates. On a constant currency basis, service revenue grew $55.3 million, an increase of 16.0% compared to the third quarter of 2015.
Net new business for the quarter ended September 30, 2016 was $519.1 million, representing a net book-to-bill ratio of 1.30 for the period. This net new business contributed to an ending backlog of $2.8 billion at September 30, 2016.