PRA Health Sciences Reports First Quarter 2017 Results

RALEIGH, N.C., April 25, 2017 (GLOBE NEWSWIRE) -- PRA Health Sciences, Inc. (“PRA” or the “Company”) (NASDAQ:PRAH) today reported financial results for the quarter ended March 31, 2017.

For the three months ended March 31, 2017, service revenue was $427.1 million, which represents growth of 14.7%, or $54.8 million, compared to the first quarter of 2016 at actual foreign exchange rates. On a constant currency basis, service revenue grew $56.2 million, an increase of 15.1% compared to the first quarter of 2016.

Net new business for the quarter ended March 31, 2017 was $564.8 million, representing a net book-to-bill ratio of 1.32 for the period. This net new business contributed to an ending backlog of $3.1 billion at March 31, 2017.

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