News
22 Jul 2011
ICON Reports Q2 Financial Results
ICON has reported its financial results for the second quarter ended June 30, 2011 with a 4 per cent rise in net revenues.
Dublin-based clinical research firm ICON announced its financial results for 2Q with a 4 per cent rise in second-quarter net revenues.
ICON's backlog passed $2.0 billion for the first time. As a result of its new long-term partnership with Pfizer, the company anticipates increased 3Q expenses without immediate offsetting revenue gains. Costs will also increase in 4Q, but Pfizer-related revenues are expected to build in that quarter. Direct costs were up 15% in 2Q to $151 million.
2Q Revenues: $233 million (+4%)
2Q Earnings: $13 million (-43%)
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