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Financial Report: ICON

Revenues up 24% in the quarter

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By: Tim Wright

Editor-in-Chief, Contract Pharma

ICON

4Q Revenues: $300 million (+24%)

4Q Earnings: $20.7 million (earnings were $4.1 million in 4Q11)

FY Revenues: $1.1 billion (+18%)

FY Earnings: $55.4 million  (+142%)

Comments: Operating income for the quarter was $24.4 million, up from $6.6 million in 4Q11, and 8% of revenue. For the year income from operations was $68.0 million and 6% of revenue. Backlog increased 20% for the year to $2.8 billion.
For the year restructuring and other charges were $60.4 million, or 5% of revenue.

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