Jefferies Comments On Parexel Guidance

According to Jefferies, Parexel Int'l PRXL issued FY2012 consolidated service revenue and adjusted EPS guidance ahead of its annual Investor Day (scheduled for June 2), the midpoints of which both coming in ahead of Jefferies and consensus estimates. Jefferies said that its initial reaction is the achievement of these targets will require a significant ramp-up in revenue from previously signed strategic relationships. “Management reiterated its previous FY4Q11 guidance of $300-310MM in consolidated service revenue, and non-GAAP EPS of $0.05-0.09. Adjusted earnings exclude a ~$4.0MM restructuring charge (worth about $0.06 per share). FY2011 guidance was also affirmed, consisting of $1.202-1.212B in consolidated service revenue, and $0.90-0.94 in non-GAAP EPS.” Parexel Int'l closed yesterday at $24.41.