Icon puts in strong Q2 performance

IRISH medical device and pharmaceutical services specialist, Icon, has followed up a solid set of first-quarter figures with an equally strong second-quarter showing.

The latter includes a 21% year-on-year rise in net profit to $22.75 million (€16m) and a 20% rise in operating profit to $29.3m.

Revenues for the second quarter rose $2m on the same three-month period last year to $220m.

Earnings per share for the quarter were down slightly from 33c to 32c.

The value of new business won during the second quarter amounted to $266m.

Icon — which has its headquarters in Dublin and its main stock listing on New York’s Nasdaq exchange — earlier reported a 25% year-on-year rise in first-quarter operating profits and a 9% rise in overall revenue.

Net revenue of just under $440m for the first six months of the year constituted a 5% rise on last year’s first-half levels.

“Year to date revenue was 5% ahead of the prior year and earnings per share were up by 24% over the first six months of 2008,” confirmed Icon’s chairman, Dr John Climax.

Chief executive, Peter Gray, said: “In the current market, we are pleased with the results for the quarter.”

The company has set guidance for its full-year revenue for 2009 at between $880m and $900m and for earnings per share at between $1.38 to $1.44.