DUBLIN, Ireland Clinical research services company Icon plc has reported earnings per share of US$0.11 on a diluted basis for the second quarter ending Nov. 30, 1998. This represents an increase of 63 percent over the comparable period last year. Company revenues, net of contributions to subcontractors, grew 37 percent to US$13.7 million, while net income rose from US$0.9 million to US$1.95 million.
The news boosted Dublin-based Icon¿s stock (NASDAQ:ICLRY) during Monday trading. The company¿s share price on the Nasdaq market climbed around US$4 to more than US$35, at one point hitting an historic high of US$36.75 before settling down to US$33, where it ended the day up US$1.50. Icon¿s share price has performed solidly since the company listed on Nasdaq last May, when it opened at an initial offer price of US$18. (See BioWorld International, May 20, 1998, p. 5.)
¿Our confidence in the outlook for our industry remains strong and we continue to invest in the facilities, technology and people we need to support our future growth plans,¿ said company chairman Ronan Lambe. Icon, which employs more than 560 people in eight countries, also announced it is opening a facility in South America in the current quarter. Cormac Sheridan