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Backlog grows, but ramping up for new business leads to tighter margins
May 1, 2012
By: Gil Roth
President, Pharma & Biopharma Outsourcing Association
Parexel 3Q 3Q Revenues*: $356 million (+18%) 3Q Earnings: $22.9 million (+46%) YTD Revenues*: $1.0 billion (+11%) YTD Earnings: $45.3 million (-10%) * Consolidated service revenues only Comments: Backlog at the end of the quarter was approximately $4.2 billion (+33% year-over-year). Reported backlog included gross new business wins of $1.1 billion, cancellations of $263.3 million, and a positive impact from foreign exchange rates, and other small adjustments of $44.3 million. The net book-...
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