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PRA International (NASDAQ: PRAI), a leading global clinical research organization, announced today that it was named to BusinessWeek’s 2005 list of the 100 Best Small Companies.
RESTON, VA, [May 31, 2005] -- PRA International (NASDAQ: PRAI), a leading global clinical research organization, announced today that it was named to BusinessWeek's 2005 list of the 100 Best Small Companies. Debuting at number 55, PRA International was the highest-ranking CRO on the list.
PRA is part of a dynamic group of companies assembled by BusinessWeek for the cover story in the June 6, 2005 edition. The article notes that the overarching theme for this year's list is talent, teamwork, and creativity. Most companies that made the list, according to BusinessWeek, have "hit on innovative ideas or tapped into economic trends," and all of the companies have "learned to exploit their special strengths to persevere against rivals. And there's not a hint of mediocrity among them."
Service companies like PRA compete on the basis of superior people and the tools they need to succeed. PRA invests heavily in both areas. "This wonderful recognition for the outstanding people at PRA International is a prestigious honor from BusinessWeek", said Pat Donnelly, PRA's President and CEO. "I am so proud to be a member of the PRA team, all of whom certainly exemplify the theme and spirit of BusinessWeek's article.
"PRA's selection by BusinessWeek for their list of 100 best small companies underscores our belief that we have assembled the very best talent in the industry. PRA attracts expert senior medical and scientific professionals and supports them with staff development opportunities and world class management processes and systems. This combination of talent, training and tools ensures that our people are able to deliver The Project AssuranceSM Difference, our commitment to exceed the expectations of our customers at every touch point."
BusinessWeek's annual "100 Best Small Companies" list recognizes the fastest growing small companies among 2,200 publicly traded companies with revenues between $50 million and $1.5 billion a year. Those small companies chosen for the list were ranked by sales and earnings growth, as well as return on capital, over the last three years. Contenders had a market cap of $25 million or more and a stock trading for at least $5 per share.
BusinessWeek selected the top 100 companies based on these criteria and data from 2004. As a group, these 100 companies exhibited average annual sales growth of 30.7% over the last three years, and 118.9% earnings growth over the same period.
Go to www.businessweek.com to see the full text of the article.
PRA International is one of the world's leading clinical development organizations, with over 2,500 employees working from offices in North America, Europe, South America, Africa, Australia and Asia. PRA delivers services to its clients through a unique approach called Project AssuranceSM, which represents the company's commitment to reliable service delivery, program-level therapeutic expertise, easy, global access to knowledge, and involved senior management.
PRA International Is Registered To The ISO 9001:2000 Standard. Although other clinical research organizations have similar registrations, PRA International is the only global CRO with ISO 9001:2000 registration for the entire standard, including study design and development.
This news release contains statements relating to PRA International that are based upon the Company's historical financial and business performance. You should not place undue reliance on these statements, which represent the Company's historical achievements and are not intended to give any assurance as to actual future results. Factors that might cause future results to differ include: volatility within the small-company sector; failure to sustain enough growth to remain on the BusinessWeek list of best small companies; historical growth resulting from temporary trends; and the tendency of investors to quickly disfavor small, fast-growing companies whose growth slows, which makes the small-company sector "especially risky," according to BusinessWeek. PRA's future performance is subject to risks and uncertainties that are described more fully in "Management's Discussion and Analysis of Financial Condition and Results of Operations" sect ions of its Annual Report on Form 10-K for the year ended December 31, 2004. This document can be accessed in the SEC's EDGAR database found at www.sec.gov. Please note that PRA assumes no obligation to update any of the statements in this release, except as required by applicable securities laws.