ICON reports €728m in revenues
ICON is a global company based in Dublin who provide outsourced development services to the pharmaceutical, biotechnology and medical device industries.
ICON recorded revenue growth of 5% year on year in 2011.
Operating income before non-recurring charges was €30.2m, representing 4.2% of revenue compared to €70.7m, or 10.2%, in 2010.
Income from US operations was €22.6m, or 3.1%, compared with €70.7m in the year before.
Chief executive Ciaran Murray, said: “I am encouraged with our performance in the quarter. Net new business awards were €237m, representing a book to bill of 1.3. This resulted in a year-end backlog of €1.7 billion, up 19% on December 2010.”
ICON also announced results for the final quarter of 2011. The company recorded net growth for the quarter of 5% and an income of €5m.
Mr Kenny choose ICON as the launchpad for his jobs initiative on Monday, as he felt the company “epitomised Ireland’s ability to find and play to its strengths”.
ICON employs 8,500 people in 40 countries and has enjoyed growth for the last 22 years.
It is a trend the company expects to continue in 2012. It has announced a target for revenues in 2012 of between €823m and €854m, and earnings per share in the range of €0.69-€0.84
ICON also announced the appointment of Brendan Brennan as chief financial officer. Mr Brennan has served as acting chief financial officer since October. Prior to the appointment he served as senior vice-president of corporate finance and has been a senior member of the ICON finance team since 2006.
Prior to joining ICON, Mr Brennan held a senior corporate finance position in CRH plc, an international building materials group.
At the close of trading, ICON plc remained unchanged on the ISIN at €14.80
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