Research Desk Line-up: iKang Healthcare Post Earnings Coverage

LONDON, UK / ACCESSWIRE / September 18, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on PAREXEL International Corp. (NASDAQ: PRXL) ("Parexel"), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=PRXL, following the Company's posting of its financial results on August 28, 2017, for the fourth quarter fiscal 2017. The Company's service revenue increased 3.8% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Medical Laboratories & Research industry. Pro-TD has currently selected iKang Healthcare Group, Inc. (NASDAQ: KANG) for due-diligence and potential coverage as the Company announced on September 14, 2017, its financial results for fiscal Q1 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on iKang Healthcare when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on PRXL; also brushing on KANG. With the links below you can directly download the report of your stock of interest free of charge at:

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Earnings Reviewed

For three months ended June 30, 2017, Parexel's revenue increased 3.5% to $647.6 million from $625.5 million in Q4 FY16. During Q4 FY17, the Company's service revenue increased 3.8% to $557.2 million from $536.6 million in the same period last year. For the reported quarter, the Company's reimbursement revenue increased 1.7% to $90.4 million from $88.9 million in Q4 FY16. The service revenue surpassed analysts' expectations of $537.6 million.

For the reported quarter, the Company's gross profit increased 9.5% to $207.9 million from $189.8 million in Q4 FY16. During Q4 FY17, Parexel's gross margin increased 180 basis points to 32.1% of revenue from 30.3% of revenue in Q2 FY16. For the reported quarter, the Company's adjusted gross profit increased 9.5% to $209.6 million from $191.4 million in Q4 FY16. During Q4 FY17, Parexel's adjusted gross margin increased 180 basis points to 32.4% of revenue from 30.6% of revenue in Q2 FY16.

During Q4 FY17, Parexel's selling, general, and administrative (SG&A) expenses increased 17.5% to $112.7 million from $95.9 million in Q4 FY16. For the reported quarter, the Company's depreciation and amortization (D&A) expenses increased 10.3% to $27.9 million from $25.3 million in Q4 FY16.

During Q4 FY17, the Company's operating income decreased 25.2% to $48.0 million from $64.2 million in Q4 FY16. For the reported quarter, Parexel's operating margin decreased 290 basis points to 7.4% of revenue from 10.3% of revenue in Q4 FY16. During Q4 FY17, the Company's adjusted operating income increased 11.6% to $82.0 million from $73.5 million in Q4 FY16. For the reported quarter, Parexel's adjusted operating margin increased 90 basis points to 12.7% of revenue from 11.8% of revenue in Q4 FY16.

For the reported quarter, Parexel's effective tax rate was 29.1% compared to 28.8% in Q4 FY16. During Q4 FY17, the Company's adjusted effective tax rate was 31.5% compared to 28.5% in Q4 FY16.

During Q4 FY17, Parexel's net income decreased 30% to $29.9 million on a y-o-y basis from $42.7 million in Q4 FY16. During Q4 FY17, Parexel's diluted EPS decreased 27.5% to $0.58 on a y-o-y basis from $0.80 in Q4 FY16. For the reported quarter, the Company's adjusted net income increased 4.6% to $52.2 million on a y-o-y basis from $49.9 million in Q4 FY16. For the reported quarter, the Company's adjusted diluted EPS increased 8.5% to $1.02 on a y-o-y basis from $0.94 in Q4 FY16. The company's adjusted diluted EPS surpassed analysts' expectations of $0.94.

Parexel's Segment Details

CRS - During Q4 FY17, the CRS segment's service revenue increased 6.5% to $432.3 million from $405.9 million in Q4 FY16. For the reported quarter, the segment's service gross profit increased 18.1% to $151.1 million from $127.9 million in Q4 FY16. During Q4 FY17, the segment's adjusted gross margin increased 350 basis points to 35.0% of service revenue from 31.5% of service revenue in Q4 FY16.

PC - During Q4 FY17, the PC segment's service revenue decreased 16.4% to $50 million from $59.8 million in Q4 FY16. For the reported quarter, the segment's service gross profit decreased 22.8% to $20.7 million from $26.8 million in Q4 FY16. During Q4 FY17, the segment's adjusted gross margin decreased 270 basis points to 44.8% of service revenue from 47.5% of service revenue in Q4 FY16.

PI - During Q4 FY17, the PI segment's service revenue increased 5.6% to $74.9 million from $70.9 million in Q4 FY16. For the reported quarter, the segment's service gross profit increased 2.8% to $36.1 million from $35.1 million in Q4 FY16. During Q4 FY17, the segment's adjusted gross margin decreased 130 basis points to 48.2% of service revenue from 49.5% of service revenue in Q4 FY16.

Balance Sheet

As on June 30, 2017, Parexel's cash and cash equivalents increased 21.8% to $302.7 million from $248.6 million in Q4 FY16.

During Q4 FY17, the Company's net receivables decreased 1% to $371.7 million from $375.5 million in Q4 FY16.

During Q4 FY17, the Company's long-term debt increased 32.2% to $645.0 million from $487.8 million in Q4 FY16.

Stock Performance

At the closing bell, on Friday, September 15, 2017, PAREXEL Intl.'s stock marginally rose 0.02%, ending the trading session at $87.95. A total volume of 798.42 thousand shares have exchanged hands. The Company's stock price skyrocketed 5.33% in the last three months, 39.32% in the past six months, and 29.62% in the previous twelve months. Moreover, the stock soared 33.83% since the start of the year. The stock is trading at a PE ratio of 42.82 and currently has a market cap of $4.49 billion.

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