WALTHAM, Mass. (AP) _ Parexel International Corp. (PRXL) on Wednesday reported fiscal third-quarter profit of $17.8 million.
The Waltham, Massachusetts-based company said it had profit of 35 cents per share. Earnings, adjusted for non-recurring costs, were 74 cents per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.
The pharmaceutical research contractor posted revenue of $605.2 million in the period. Its adjusted revenue was $529.3 million, matching Street forecasts.
For the current quarter ending in June, Parexel expects its per-share earnings to range from 87 cents to $1.01.
The company said it expects revenue in the range of $531 million to $545 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $537.6 million.
Parexel expects full-year earnings in the range of $3.17 to $3.31 per share, with revenue ranging from $2.09 billion to $2.11 billion.
Parexel shares have dropped almost 2 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $64.54, a rise of roughly 10 percent in the last 12 months.
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