CRO giant Icon ($ICLR) is riding high on another spike in revenue, again upping its full-year expectations after increasing profits by more than 50%.
Icon clocked $339.8 million in revenue in the third quarter, 19% over the same period last year, and increased its net income 57% to $27.8 million. On a year-to-date basis, Icon has pulled in $991 million in revenue, 22% better than last year.
Now, for the second time this year, Icon is hiking up its full-year guidance, expecting up to $1.3 billion and as much 19% growth over its 2012 results.
Over the past year, Icon has poured money and effort into its infrastructure, expanding its capabilities in adaptive trial monitoring and spending $52 million to snag Cross Country Healthcare's functional service business. Those efforts have paid off, as Icon has posted quarter after quarter of revenue growth and has gradually ticked up its sales projections for the year.
The Irish CRO has been on the up and up since ditching the Irish Stock Exchange and making its way to the Nasdaq back in November.
- read Icon's full results