Icon ekes out another quarter of growth despite currency woes

Icon CEO Ciaran Murray

Irish-headquartered CRO Icon ($ICLR) kept its streak of quarterly revenue growth running, posting a 1.8% year-over-year increase in sales.

The company booked $394.7 million in the third quarter, topping the $387.6 million it brought in in the same period last year. Taking into account currency fluctuations, that would have amounted to 7.5% instead of 1.8%, Icon said.

Icon's profits jumped 22% to $61.5 million or $1.02 per share, a figure that topped analysts' estimates.

For the first 9 months of the year, Icon has made $1.2 billion in revenue, pacing 5.2% ahead of 2014. The company is expecting full-year revenue to come in at about $1.6 billion.

To get there, Icon is relying on its backlog to keep cash coming in.

"We achieved net new business wins of $475 million, which represented a book to bill of 1.2 and grew our backlog by 8% over last year," CEO Ciaran Murray said in a statement.

- read the results

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