This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ICON Reports Fourth Quarter 2011 Revenue Of $243m, Up 5% Year On Year, And EPS Of $0.07. Backlog Increases 19%. (NASDAQ:ICLR) (ISIN:IE0005711209)

Stocks in this article: ICLR

ICON (NASDAQ:ICLR) (ISIN:IE0005711209), a global provider of outsourced development services to the pharmaceutical, biotechnology and medical device industries, today reported its financial results for the full year and fourth quarter ended December 31, 2011.

For the fourth quarter net revenues grew 5% year on year to $242.6 million and operating income was $6.6 million representing 3% of revenue, compared to $22 million or 9% for the same quarter last year. Net income was $4.1 million compared with $22.1 million last year or $0.07 per share compared to $0.36 in the same quarter last year.

For the full year revenue grew 5.1% to $946 million and operating income before non-recurring charges was $39.3 million representing 4.2% of revenue compared to $92 million or 10.2% in 2010. On a US GAAP basis income from operations was $29.4 million or 3.1% compared with $92 million in the prior year.

Net income before non-recurring charges was $31.5 million, a net margin of 3.3%, compared to $87.1 million last year and 9.7% of revenue. EPS before non-recurring charges for 2011 was $0.52 per share compared with $1.44 in 2010. On a US GAAP basis net income was $22.8 million, a net margin of 2.4%, compared to $87.1 million last year and 9.7% of revenue. EPS on a GAAP basis for 2011 was $0.37 per share compared with $1.44 in 2010.

Days sales outstanding, comprising accounts receivable and unbilled revenue less payments on account was 47 days at December 31, 2011 compared with 52 days at the September 30, 2011 and 37 days at December 31, 2010.

For the quarter ended December 31, 2011 cash provided by operating activities was $37.8 million and capital expenditure was $10.7 million. For the full year 2011 cash flow from operating activities was $20.2 million and capital expenditure was $35.3 million. In addition $61.5 million was invested on acquisitions and $9 million was expended on a stock repurchase programme. As a result the company’s net cash amounted to $174 million at December 31, 2011 compared to $256 million of net cash at December 31, 2010.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs