BOSTON--(BUSINESS WIRE)--PAREXEL International Corporation (NASDAQ: PRXL) today reported financial results for the second quarter of Fiscal Year 2017, which ended on December 31, 2016.
“We were satisfied with our adjusted EPS results in the second quarter,” said Josef von Rickenbach, Chairman and Chief Executive Officer of PAREXEL International. “Revenue growth in the quarter was relatively modest mainly due to the lingering impact of cancellations in prior periods, continuing slower backlog conversion due to increasing clinical trial complexity, and revenue delays from recent awards. As we expect recent strong new business awards to contribute less near-term revenue than we had anticipated, we are lowering our forecast for Fiscal Year 2017 revenue and diluted EPS.
“We were satisfied with our adjusted EPS results in the second quarter,” said Josef von Rickenbach, Chairman and Chief Executive Officer of PAREXEL International. “Revenue growth in the quarter was relatively modest mainly due to the lingering impact of cancellations in prior periods, continuing slower backlog conversion due to increasing clinical trial complexity, and revenue delays from recent awards. As we expect recent strong new business awards to contribute less near-term revenue than we had anticipated, we are lowering our forecast for Fiscal Year 2017 revenue and diluted EPS.
