ICON (NASDAQ: ICLR), a global provider of outsourced development
services to the pharmaceutical, biotechnology and medical device
industries, today raised its existing 2006 guidance and announced
financial guidance for 2007.
As a result of our strong backlog and continuing new business
awards we are raising our net revenue forecast for 2006 to a range of
$448 to $452 million. Net income per diluted share is expected to be
$1.28 to $1.30 including non cash stock compensation expense in
accordance with SFAS 123R.
2007 net revenue is expected to be in the range of $530 - $550
million, an increase of 20% on the forecast 2006 revenue.
Net income per diluted share including non cash stock compensation
expense in accordance with SFAS 123R is forecast to be in the range of
$1.63 - $1.71. This represents an increase of 29% on 2006.
The company will hold a conference call today, December 15, 2006
at 09:00 EST (14:00 Ireland & UK). A question and answer session will
follow.
The statements made in this Press Release may contain
forward-looking statements that involve a number of risks and
uncertainties. In addition to the matters described in this Press
Release, the ability to maintain large client contracts or enter into
new contracts, maintain client relationships and the ability to manage
the opening of new offices, the integration of new business mergers
and acquisitions, as well as other risks and uncertainties detailed
from time to time in SEC reports filed by ICON, including its Form
20-F, F-1, S-8 and F-3, may affect the actual results achieved by
ICON. ICON disclaims any intent or obligation to update these
forward-looking statements.
The financial information presented herein has been prepared in
accordance with U.S. GAAP.
ICON plc is a global provider of outsourced development services
to the pharmaceutical, biotechnology and medical device industries.
The Company specializes in the strategic development, management and
analysis of programs that support clinical development - from compound
selection to Phase I-IV clinical studies. ICON teams have successfully
conducted over 1,900 development projects and over 2,300 consultancy
engagements across all major therapeutic areas. ICON currently has
over 4,100 employees, operating from 48 locations in 30 countries.
Further information is available at www.iconclinical.com.
