799729--8/28/2008--PAREXEL_INTERNATIONAL

related topics

{regulation, government, change}

{tax, income, asset}

{operation, international, foreign}

{stock, price, operating}

{acquisition, growth, future}

{system, service, information}

{product, liability, claim}

{product, market, service}

{product, candidate, development}

{personnel, key, retain}

{provision, law, control}

{debt, indebtedness, cash}

{competitive, industry, competition}

{condition, economic, financial}

{cost, operation, labor}

The loss, modification, or delay of large or multiple contracts may negatively impact our financial performance. We face intense competition in many areas of our business; if we do not compete effectively, our business will be harmed. The fixed rate nature of our contracts could hurt our operating results. If governmental regulation of the drug, medical device and biotechnology industry changes, the need for our services could decrease. If we fail to comply with existing regulations, our reputation and operating results would be harmed. We may lose business opportunities as a result of health care reform and the expansion of managed-care organizations. Because we depend on a small number of industries and clients for all of our business, the loss of business from a significant client could harm our business, revenue and financial condition. If we do not keep pace with rapid technological changes, our products and services may become less competitive or obsolete, especially in our Perceptive business. If our Perceptive business is unable to maintain continuous, effective, reliable and secure operation of its computer hardware, software and internet applications and related tools and functions, its business will be harmed. If we cannot retain our highly qualified management and technical personnel, our business would be harmed. If we are unable to attract suitable willing investigators and volunteers for our clinical trials, our clinical development business might suffer. We may have substantial exposure to payment of personal injury claims and may not have adequate insurance to cover such claims. Our business is subject to international economic, political, and other risks that could negatively affect our results of operations or financial position. Our revenue and earnings are exposed to exchange rate fluctuations. Our operating results have fluctuated between quarters and years and may continue to fluctuate in the future, which could affect the price of our common stock. Our indebtedness may limit cash flow available to invest in the ongoing needs of our business. Our effective income tax rate may fluctuate from quarter-to-quarter, which may affect our earnings and earnings per share. Our results of operations will be adversely affected if we fail to realize the full value of our goodwill and intangible assets. Our business has experienced substantial expansion in the past and such expansion and any future expansion could strain our resources if not properly managed. We may make acquisitions in the future, which may lead to disruptions to our ongoing business. Our corporate governance structure, including provisions of our articles of organization, by-laws, shareholder rights plan, as well as Massachusetts law, may delay or prevent a change in control or management that stockholders may consider desirable. Our stock price has been and may in the future be volatile, which could lead to losses by investors.

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799729--8/28/2008--PAREXEL_INTERNATIONAL_CORP