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Financial Report: INC Research

Revenues up 23% in the quarter

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By: Kristin Brooks

Managing Editor, Contract Pharma

INC Research
 
4Q Revenues: $402.9 million (+23%)

4Q Earnings: $30.7 million (loss of $53.2 million 4Q14)

FY Revenues: $1.4 billion (+19%)

FY Earnings: $117 million (loss of $23.5 million FY14)

Comments: Book-to-bill was 1.2x for the quarter and 1.3x for the year. Net new business awards were $297.4 million in the quarter and $1.18 billion for the year.
Revenue growth during both the fourth quarter and fiscal year 2015 was driven primarily by continued strong awards over the last two years, a lower cancellation rate of previously awarded business and a positive revenue mix. In 2015, revenue grew across all therapeutic areas and was particularly strong in complex therapeutic areas.

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