21 Feb 2013, BioSpectrum Bureau , BioSpectrum
Singapore: Icon's net revenue for the full year and fourth quarter ending December 31, 2012, increased 24 percent year-on-year to $300 million. Operating income was $24.4 million as compared to $6.6 million in the same quarter last year. Operating margin was 8.1 percent of revenue, as compared to 2.7 percent of revenue for the same quarter last year. Net income was $20.7 million when compared with $4.1 million last year or $0.34 per share as compared to $0.07 in the same quarter last year.
For the full year, revenue increased 18 percent to $1.12 billion and operating income was $73.7 million as compared to $39.3 million last year. Operating margin for the full year 2012 was 6.6 percent of revenue when compared with 4.2 percent of revenue in 2011. On a US GAAP basis, income from operations was $68.0 million or 6.1 percent when compared with $29.4 million or 3.1 percent in the prior year.
For the full year, net income before restructuring and other items was $60.4 million, as compared to $31.5 million last year and net margin was 5.4 percent of revenue, when compared with 3.3 percent in 2011. EPS before restructuring and other items for 2012 was $1.00 per share when compared with $0.52 in 2011.
Mr Ciaran Murray, CEO, Icon, commented that, "In 2012 we saw the validation of our investment strategy as we won a record $1.6 billion of new business and reported milestone revenue of $1.12 billion and EPS of $1.00. Backlog grew 20 percent to $2.8 billion, which along with continuing investment in capabilities, talent and innovation in drug development, provides a solid foundation for further growth in 2013."