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Financial Report: INC Research

Revenues up 13% in the quarter

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By: Kristin Brooks

Managing Editor, Contract Pharma

INC Research

3Q Revenues: $391.8 million (+12%)

3Q Earnings: $27.3 million (-28%)

YTD Revenues: $1.2 billion (+21%)

YTD Earnings: $75.1 million (-13%)

Comments: The company saw growth across all therapeutic areas, particularly in the central nervous system, oncology and other complex therapeutic areas. Restructuring charges were $2.9 million in the quarter, which included CEO transition and other costs associated with a reduction of workforce. Backlog grew 12.3% to $2.0 billion as of September 30, 2016, as compared to $1.8 billion in 3Q15. Net new business awards were $330.1 million, representing a book-to-bill ratio of 1.3x, for the three months ended September 30, 2016, as compared to $327.7 million in 3Q15.

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