Thursday 17 April 2014

Icon ups profit forecast after sales surge

Dublin-based medical outsourcing provider Icon has boosted its full-year profit forecast after sales surged by nearly a fifth in the July to September period.

Third-quarter revenue was $340m (€246m), an increase of 19pc compared with the same period in 2012.

Earnings per share were $0.45, exceeding analyst predictions.

Net income was $27.8m, compared with $17.7m last year. Costs also rose to €306,649 from €264,623 a year before.

The company upgraded its full-year expectations on the back of the results, predicting that revenues for 2013 will hit between $1.325bn and $1.33bn. It previously forecasted revenues of around $1.32bn.

Icon, which delisted from the Dublin stock exchange last year, is listed in New York on the NASDAQ exchange. Its share price had risen by 7pc to $42.31.

It was founded 23 years ago by Irish doctors John Climax and Ronan Lambe. One of the country's largest companies, it employs more than 10,000 employees in 37 countries, including 830 in Dublin and Limerick. It specialised in the development, management and analysis of drugs and medical treatment, including performing clinical studies.

Irish Independent

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