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| Icon CEO Ciaran Murray |
Dublin's Icon ($ICLR) nailed down another strong sales quarter, growing revenue 21% and increasing its full-year expectations.
Second quarter revenue came in at $334 million for Icon, boiling down to $22.5 million in net profit, nearly three times the $7.9 million the CRO cleared in the same period last year.
That sales figure is a 5.4% jump over Q1, putting Icon ahead of its earlier revenue projection. The CRO is now expecting up to 17.9% annual growth for 2013, eyeing as much as $1.32 billion after 2012's $1.12 billion.
"I am happy that Q2 was another strong quarter for Icon," CEO Ciaran Murray said in a statement. "... We have continued to book satisfactory levels of new business and our trailing 12-month book to bill now stands at 1.3."
Icon's shares jumped as much as 5.8% after the earnings announcement Thursday, eventually closing up 2.4% at $38.92. Since the start of the year, Icon's share price has increased more than 38%.
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. Along with regularly quarterly leaps in revenue and income, Icon has spent millions to expand its clinical trials capacity, reshaped its functional service model and reached out to the academic world to bolster its research talent.
- read Icon's full results