Parexel narrows outlook

Pharmaceutical services company Parexel International Corp. on Wednesday narrowed its guidance for the fiscal fourth-quarter and the full-year, and revealed expectations for 2008.

For the fiscal fourth quarter, the company now expects revenue in the range of $200 to $203 million, compared to a range of $197 to $203 million as reported in late April. The company's anticipated fourth-quarter earnings per share remained unchanged at 35 cents to 37 cents per share.

For the full-year ending June 30, the company expects revenue of between $737 and $740 million, compared to a previously issued guidance of $734 to $740 million. The company still anticipates it will earn between $1.30 and $1.32 per share for the year.

The company also provided initial guidance for fiscal 2008, with expected revenue in the range of $850 to $880 million, and earnings per share of $1.56 to $1.66. Thomson Financial reports analysts, on average, expect revenue for 2008 of $857.8 and earnings per share of $1.63.

The company said it will discuss its earnings expectations at its Investor Day today in New York. (AP)