ICON profits fall to under $18m

THIRD quarter pre-tax profits at Irish pharmaceutical services company, ICON, fell to $17.9 million (€12.8m); from just under $30m for the corresponding period last year.

Net revenue, for the three months to the end of September, was up by $5m on a year-on-year basis at $225.1m; while basic earnings per share fell from 41c to 33c.

The Dublin-headquartered company, which acts as a global provider of outsourced development services to the pharmaceutical, biotechnology and medical device sectors, and which has its primary share listing on New York’s Nasdaq exchange, said its net cash reserves jumped by $10m to $231m between the end of June and the end of last month.

According to company chief executive Peter Gray, the clinical trials division had another solid quarter, with the value of new business wins amounting to $317m. Despite this, however, Mr Gray said that the growing backlog of orders has not converted into revenue growth as quickly as anticipated. “Overall, ICON remains in a strong position and continues to invest in its business in order to benefit from the opportunities that are arising as our customers transition to new development models.”


Lifestyle

Orlagh Kelly owns The Reading Room bookshop on Main Street in Carrick-on-Shannon in Co Leitrim.We sell books: The Reading Room - ‘Small bookshops, curated by people who care, make a difference’

As Stockton’s Wing release a retrospective album, Mike Hanrahan tells Donal O’Keeffe about getting back on the road, and his love of cookingStill a beautiful affair: Mike Hanrahan talks about getting back on the road with Stockton's Wing

An ongoing cull is resulting in a major reduction in the deer population in one of the country’s most visited natural attractions.Donal Hickey: Deer birth patterns evolving

A Courtmacsherry neighbour, Kathy Gannon tells me that when the tide is out, the vast acres of clean, grey mud of the bay reflect the sun in splendour in the clear, sharp air.Damien Enright: ‘How enchanting for humanity that we have birds’

More From The Irish Examiner