PRA International / PRAI

About PRA International

12120 Sunset HIlls Rd., Suite 600, Reston, Va. 20190
www.prainternational.com | 703-464-6300 | Founded: 1976

Industry: Biotechnology | Category: Public Companies

In 2006, PRA acquired facilities in the Netherlands and India to expand its bioanalytical laboratory services and clinical and data management operations. The Netherlands acquisition has allowed PRA to expand its service offerings; the India acquisition means the company is now able to offer round-the-clock data management services for customers. PRA also opened offices in Buenos Aires, Brussels and China in 2006.
Last December, Patrick K. Donnelly resigned as director, president and chief executive. The company has an interim chief executive, Terrance J. Bieker. The company expects to select a permanent chief executive this year.
The company says it plans to close two facilities this year, in Eatontown, N.J., and Ottawa, to cut expenses without having to cut the size of its staff. The restructuring is to cost about $9 million, to be expensed over the next two years, and will allow PRA to save about $4 million a year. In those locations, the company will retain most of the employees, who will work from home after the facilities are closed.

2006 Financial Data

Revenues: $338,166,000 | Net Income: $26,845,000
Asssets: $454,255,000 | Earnings Per Share: $1.08
Total employees: 2,700 | Local employees: 60