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ICON

Central lab business expands, but revenues need to catch up.

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By: Tim Wright

Editor-in-Chief, Contract Pharma

ICON 3Q10

3Q10 Revenues: $225 million (+2%)

3Q10 Earnings: $20 million (-17%)

YTD Revenues: $668 million (+1%)

YTD Earnings: $65 million (-4%)

Comments: Currency fluctuations knocked five points off of ICON’s quarterly revenue growth. The clinical business posted gross new business awards of $317 million and net bookings of $225 million. The company has undertaken cost reduction actions recently and plans further moves along that line.

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