ICON Income Up 17%, Revenues Hold Steady
Year-end revenues for Dublin-based CRO ICON increased 3% in 2009 to $888 million. Fourth quarter revenues also increased 3% to $227.4 million compared with $220.1 million for the same period last year.
Net income grew 17% to $91.6 million compared with $78.1 million last year.
Full-year diluted earnings per share (EPS) increased to $1.53 per share, an 18% increase over 2008.
“We are pleased with our performance in what has been a challenging year,” said CEO Peter Gray in a statement. “With our backlog at $1.84 billion and with a strong balance sheet, we have entered 2010 in a good position. While external factors are challenging, and many governments are endeavouring to reduce healthcare costs, including pharmaceutical prices, we remain positive, though cautious, as 2010 commences. As a result we are issuing revenue guidance for 2010 in the range of $890 to $940 million and EPS guidance in the range of $1.44 to $1.60.”