January 25, 2010 / 10:52 PM / 9 years ago

UPDATE 1-Parexel Q2 profit beats estimates

* Q2 non-GAAP EPS $0.26 vs est. $0.22/shr

* Q2 rev $284.7 mln vs est. $281.90 mln

* Shares rise 4 pct after the bell

Jan 25 (Reuters) - Parexel International Corp PRXL.O, a clinical research service provider, posted quarterly profit above estimates, helped mainly by a positive foreign exchange impact.

For the second quarter ended Dec. 31, the company posted an adjusted net income of $15.1 million, or 26 cents per share, compared with a net income of $13.1 million, or 23 cents per share, in the prior-year period.

Consolidated service revenue grew 3.2 percent to $284.7 million but excluding the impact of foreign exchange, revenue fell 2 percent from prior year, it said.

Parexel said backlog grew over 15 percent year-over-year to $2.31 billion at the end of the December quarter. The backlog includes gross new business wins of $501.7 million, cancellations of $98.9 million, and a positive impact from foreign exchange rates of $33.9 million.

The company also gave its outlook for the third quarter and fiscal year 2010. For the alerts, double click on [ID:nWNAB7966] .

Shares of Parexel were trading up 4 percent at $18.20 after the bell. They closed at $17.54 Monday on Nasdaq. (Reporting by Jennifer Robin Raj in Bangalore; Editing by Gopakumar Warrier)

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