ICON plc (ICLR) Tops Q3 EPS by 9c; Boosts Outlook

ICON plc (NASDAQ: ICLR) reported Q3 EPS of $0.79, $0.09 better than the analyst estimate of $0.70. Revenue for the quarter came in at $388 million versus the consensus estimate of $391.12 million.

ICON plc sees FY2014 EPS of $2.74-$2.79, versus prior guidance of $2.62-$2.68 and the consensus of $2.63. ICON plc sees FY2014 revenue of $1.495-1.515 billion, versus the consensus of $1.51 billion.

CEO Ciaran Murray commented, “Quarter three represented further progress in the execution of our strategic plan. Net new business wins in the quarter of $468m delivered a book to bill of 1.21. We further expanded our gross and operating margins which reached 40.7% and 15.3% respectively and as a result earnings per share increased 76% year over year to 79c. Consequently we are increasing our full year EPS guidance from a range of $2.62 - $2.68 to a range of $2.74 - $2.79. In addition, given the recent strength of the dollar against the euro we are updating our revenue guidance from a range of $1.490 billion-$1.530 billion to a range of $1.495 billion - $1.515 billion.”

For earnings history and earnings-related data on ICON plc (ICLR) click here.

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