=Parexel (PRXL) reported earnings on Wed 26 Oct 2016 (a/h)

WALTHAM, Mass. (AP) _ Parexel International Corp. (PRXL) on Wednesday reported fiscal first-quarter earnings of $40.2 million.

On a per-share basis, the Waltham, Massachusetts-based company said it had profit of 75 cents. Earnings, adjusted for non-recurring costs, were 76 cents per share.

The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.

The pharmaceutical research contractor posted revenue of $500.9 million in the period, also falling short of Street forecasts. Seven analysts surveyed by Zacks expected $525.5 million.

For the current quarter ending in January, Parexel expects its per-share earnings to range from 76 cents to 90 cents.

The company said it expects revenue in the range of $535 million to $550 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $541.4 million.

Parexel expects full-year earnings in the range of $3.71 to $4.05 per share, with revenue ranging from $2.15 billion to $2.19 billion.

Parexel shares have declined roughly 5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $64.80, a rise of nearly 3 percent in the last 12 months.