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 Second Quarter 2013 Revenue Of $334 Million, Up 21% Year On Year, Non-GAAP EPS Of 43c And Raises FY 2013 Guidance.

Stocks in this article: ICLR

ICON plc, (NASDAQ: ICLR), a global provider of outsourced development services to the pharmaceutical, biotechnology and medical device industries, today reported its financial results for the second quarter ended June 30, 2013.

Net revenues grew 21% year on year to $334.2 million from $277.0 million in Q2 2012.

Income from operations, excluding restructuring charges of $4.6 million, was $30.9 million or 9.3% of revenue, compared to $16.6 million or 6.0% for the same quarter last year.

Net income, excluding restructuring charges, was $26.5 million or 43 cents per share on a diluted basis, compared with $12.9 million or 21 cents per share last year.

Revenue in the first half of 2013 increased 23% to $651 million from $529 million in 2012.

Income from operations in the first half of 2013, excluding restructuring charges, was $58.3 million or 9.0% of revenue, compared with $28.4m or 5.4% of revenue in the previous year.

Net income, in the first half of 2013, excluding restructuring charges, was $48.7 million or 79 cents per share on a diluted basis, compared with $21.9 million or 36 cents per diluted share last year.

Guidance for the full year 2013 has been updated with revenue expected to be in the range of $1.3 billion - $1.32 billion and EPS guidance in the range of $1.54 - $1.64.

Days sales outstanding, comprising accounts receivable and unbilled revenue less payments on account, were 33 days at June 30, 2013, compared with 40 days at the end of December 2012.

For the quarter ended June 30, 2013, cash generated from operating activities was $10.8 million after expenditure of $26 million on prior period acquisition earn outs and capital expenditure of $7.8 million. The company’s net cash amounted to $184 million at June 30, 2013, compared to net cash of $190 million at December 31, 2012.

1 of 6

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 17,917.44 +112.64 0.63%
S&P 500 2,075.04 +4.39 0.21%
NASDAQ 4,777.2240 +11.8440 0.25%

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