PAREXEL’s consolidated service revenue for the three months ended June 30, 2009, was $247.4 million compared with $272.2 million in the prior year period. The Company reported an operating income of $19.5 million, or 7.9% of consolidated service revenue, in the fourth quarter of Fiscal Year 2009, versus an operating income of $26.9 million, or 9.9% of consolidated service revenue, in the comparable quarter of the prior year. Net income for the quarter totaled $6.3 million, or $0.11 per diluted share, compared with net income of $25.0 million, or $0.43 per diluted share, for the quarter ended June 30, 2008. The prior year quarter included tax adjustments totaling $8.7 million, which represented a favorable $11.1 million reversal of U.S. tax valuation reserves, partly offset by a $2.4 million adjustment to The Netherlands tax reserves.

On a non-GAAP basis for the three months ended June 30, 2009, PAREXEL’s consolidated service revenue would have been $268.4 million, operating income would have been $35.5 million, taxes would have been $10.9 million, net income would have been approximately $15.6 million, and earnings per diluted share would have been approximately $0.27. On a GAAP basis, consolidated service revenue for the fourth quarter of Fiscal Year 2009 was $200.8 million in Clinical Research Services (CRS), $30.6 million in PAREXEL Consulting and Medical Communications Services (PCMS), and $16.0 million in Perceptive Informatics, Inc.

On a GAAP basis for the full fiscal year ended June 30, 2009, consolidated service revenue was $1,050.7 million versus $964.3 million in the prior year, a year-over-year increase of 9.0%. For Fiscal Year 2009, operating income was $75.6 million, or 7.2% of consolidated service revenue, compared with Fiscal Year 2008 operating income of $86.7 million, or 9.0% of consolidated service revenue. Net income for Fiscal Year 2009 was $39.3 million, or $0.68 per diluted share, compared with net income of $64.6 million or $1.12 per diluted share, in Fiscal Year 2008. The current fiscal year was impacted by the recording of a $15.0 million reserve in the second quarter for wind-down costs and bad debt expense related to a client’s default on a contract, and a $7.1 million tax adjustment. The twelve month results ended June 30, 2008 included a non-U.S. tax benefit of $4.0 million in the first quarter, a favorable pre-tax restructuring benefit of $860,000 in the third quarter, and favorable net tax adjustments of $8.7 million in the fourth quarter mainly related to the reversal of U.S. tax valuation reserves.

On a non- GAAP basis, PAREXEL’s Fiscal Year 2009 consolidated service revenue would have been $1,071.7 million, operating income would have been $91.6 million, taxes would have been $30.6 million, net income would have been approximately $80.6 million, and earnings per diluted share would have been approximately $0.85.

On a GAAP basis, consolidated service revenue for Fiscal Year 2009 was $804.2 million in CRS, $121.8 million in PCMS, and $124.7 million in Perceptive Informatics, Inc. The Company reported a Fiscal Year 2009 ending backlog of $2,176.4 billion, an increase of 5.7% over the ending backlog reported for Fiscal Year 2008. The reported backlog included gross new business wins of $316.6 million, $48.5 million in cancellations, a positive impact from foreign exchange rates of $123.9 million, and a negative impact of $4.6 million related to an adjustment to ClinPhone’s backlog at the time of the acquisition. The net book-to-bill ratio was 1.08 for the quarter, and was 1.14 for Fiscal Year 2009 overall.

A conference call discussing PAREXEL’s financial results, and business and financial outlook was held on Tuesday, August 11, 2009. A replay of this webcast has been archived on the website (www.PAREXEL.com) and will be accessible for approximately one year following the live event.

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