Icon shares tumble 5% as full-year forecast cut

SHARES in Icon fell 5% on New York’s NASDAQ yesterday after the Dublin-based clinical research group reported lower second quarter profits and cut its full-year forecasts.

Revenues rose 9% to $79.5 million (€60.2m) for the three months to November, while pre-tax profits came in at $7.2m, down 16% from the same period in 2003. But profits for the first six months were 3% higher at $16.8m.

Revenues were ahead by 6% when the effects of acquisitions were stripped out.