The biotech company ICON has reported a 10% increase in revenue from $229.3m to $252m in the first quarter of 2012.
The company, which has its headquarters in Dublin operates from 84 locations in 40 countries and employs approximately 8,670 people.
Earnings per share for the first quarter was 15 cents, on operating income of $11.7m in the first quarter and a net income of $9m.
It describes itself as a global provider of outsourced development services to the pharmaceutical, biotechnology and medical device industries, specialising in the strategic development, management and analysis of programmes that support clinical development.
Net income fell from $12.8m from the first quarter last year, excluding non-recurring items, with earnings per share down from 21 cents in the first quarter of 2011.
The company spent $1.4m on a stock repurchase programme leaving it with net cash of $186m in total at March 31, 2012 compared to $174.2m of net cash at December 31, 2011.
Commenting on the results, chief executive Ciaran Murray, said “We continue to see the benefits of our strategic investment decisions, with record gross business wins of $485m, resulting in a backlog increase of 23% year on year, revenue of $252m up 10% on last year and earnings of 15 cents.”
