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ICON Reports Q3 Revenue Of $286 Million, EPS Of 29c And Net New Business Of $450 Million. (NASDAQ: ICLR) (ISIN:IE0005711209)

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 third quarter ended September 30, 2012.

Net revenues for the quarter grew 19% to $286 million compared to $241 million in the same quarter last year.

Income from operations, before restructuring and other non-recurring charges, for the quarter was $20.9 million or 7.3% of net revenue, compared with $1.1 million or 0.5% of net revenue for the same period last year. Net income before restructuring and other non-recurring charges was $17.7 million or 29 cents per share compared to $1.5 million or 2 cents per share in Q3 2011.

US GAAP income from operations for the quarter was $20.9 million or 7.3% of net revenue, compared with US GAAP losses from operations of $3.7 million or 1.5% of net revenue in the same period last year. US GAAP net income for the quarter was $17.7 million or 29 cents per share compared to a loss of $2.7 million or 4 cents per share last year.

Year-to-date net revenues were $815 million representing a 16% increase over the same period last year.

Year to date income from operations, before restructuring and other non-recurring charges recorded in the second quarter, was $49.3 million or 6.0% of net revenue compared to $32.6 million or 4.6% of net revenue in the same period last year. Net income year to date, excluding restructuring and other non-recurring charges recorded in the second quarter, was $39.6 million or 66 cents per share. In the same period last year, net income year to date, before restructuring and other non-recurring charges was $27.4 million or 45 cents per share.

Year to date US GAAP income from operations was $43.6 million or 5.3% of net revenue, compared to $22.8 million or 3.2% of net revenue for the same period last year. US GAAP net income year to date was $34.7 million or 57 cents per share compared to $18.8 million or 31 cents per share last year.

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