PRA Health Sciences Reports Fourth Quarter And Full Year 2015 Results And Provides 2016 Guidance

RALEIGH, N.C., Feb. 24, 2016 (GLOBE NEWSWIRE) -- PRA Health Sciences, Inc. (“PRA” or the “Company”) (NASDAQ:PRAH) today reported financial results for the quarter ended December 31, 2015.

For the three months ended December 31, 2015, service revenue was $362.3 million, which represents growth of 11.9%, or $38.5 million, compared to the fourth quarter of 2014 at actual foreign exchange rates. On a constant currency basis, service revenue grew $48.8 million, an increase of 15.1% compared to the fourth quarter of 2014.

Net new business for the quarter ended December 31, 2015 was $459.4 million, representing a book-to-bill ratio of 1.27 for the period. This net new business contributed to an ending backlog of $2.4 billion at December 31, 2015.

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