ICON Earnings: Here’s Why the Stock is Up Now
ICON plc (NASDAQ:ICLR) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 9.45%.
ICON plc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 140% to $0.36 in the quarter versus EPS of $0.15 in the year-earlier quarter.
Revenue: Rose 25.63% to $317 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: ICON plc reported adjusted EPS income of $0.36 per share. By that measure, the company beat the mean analyst estimate of $0.34. It beat the average revenue estimate of $302.29 million.
Quoting Management: CEO Ciaran Murray commented, “Q1 represents an encouraging start to 2013. Revenue increased year on year by 26%, and we continued to make progress in expanding our operating margins, reaching 8.7% in the quarter. We reported net new business of $422 million, a book to bill of 1.3, giving us a solid foundation upon which to build during the remainder of 2013.”
Key Stats (on next page)…