ICON Reports Second Quarter 2018 Results

Highlights  

• Excluding the impact of ASC 606, record net business wins in the quarter of $600 million; a book to bill of 1.27.

• Excluding the impact of ASC 606, closing backlog of $5.2 billion, an increase of 16% year on year.

• Quarter 2 reported revenue of $641.6 million. Excluding the impact of ASC 606, quarter 2 revenue was $473.9 million, representing a 10% increase year on year.

• Reported income from operations before non-recurring charges was $94.4 million, or 14.7% of revenue. Excluding the impact of ASC 606 income from operations before non-recurring charges was $96.0 million or 20.2% of revenue, a 12% increase year on year.

• Reported earnings per share before non-recurring charges of $1.51. Year to date earnings per share before non-recurring charges of $2.93, an increase of 13% on 2017.  Excluding the impact of ASC 606, earnings per share before non-recurring items was $1.54, an 18% increase year on year.

• Revenue guidance increased from a range of $2,520 – $2,640 million to a range of $2,560 – $2,640 million. Earnings guidance increased from a range of $5.91 – $6.11 to a range of $5.98 – $6.12.

Read More

Almac Group Appoints Three Vice Presidents

Craigavon, N.I., 25 July 2018Almac Group, the global contract development and manufacturing organisation, has announced the appointment of three new Vice Presidents within its Pharma Services Business Unit as it expands its executive team.
Almac Group turnover surpasses £500 million for first time 

Pre-tax Profits recorded at over £33M

 

Craigavon, N.I., 4 June 2018Almac Group, the global contract pharmaceutical development and manufacturing organisation, has reported a 19% rise in revenue to £531M.

The global company has also reported an increase in pre-tax profits, up from £27M in 2016 to over £33M.

Globally, employee figures increased by over 10% to 4,407. Of this total 2,920 staff are employed at Craigavon, representing an increase of also 10% or 270 staff on the previous year.

The figures were recorded in Almac’s annual report with its results for the year ending 30 September 2017.

2016 pre-tax profit was recorded at £27M. This year’s figure of £33M benefited from upfront and other payments relating to the out-licensing of oncology products which had been developed in house by the group and which also contributed to the profit before tax figure for the year.

The company continued to invest in expansion projects in 2017 with the building of additional lab and office facilities and the ongoing construction of one of the largest pharmaceutical cold store facilities in Europe at its Global HQ campus in Craigavon.

Group CEO, Alan Armstrong commented: “2017 was a strong year for Almac with turnover over £531 Million and profits surpassing £33 million. During the year we made significant investment for the long term benefit of the Group including global expansion into key strategic territories. The financial benefit of these investments may not be realised immediately, however they will ensure steady and continued growth of the Group into the future.  All our profits are reinvested into the business enabling us to offer best-in-class services and products to our clients and continue to be a leader in the life sciences sector.”

###

ICON Reports First Quarter 2018 Results

Highlights from the quarter include:

– ICON Helps Establish New Industry Standards Group to Improve Clinical Trial Collaboration and Execution
– ICON opens a new office in Boston
– Excluding the impact of ASC 606, net business wins in the quarter were $590 million; a book to bill of 1.28.
– Excluding the impact of ASC 606, closing backlog of $5,053 million, an increase of 17.2% year on year.
– Quarter 1 reported revenue of $620.1 million. Excluding the impact of ASC 606, quarter 1 revenue was $462.6 million, representing a 7.1% increase year on year.
– Reported income from operations was $91.7 million, or 14.8% of revenue. Excluding the impact of ASC 606 income from operations was $92.8 million or 20.1% of revenue.
– Reported earnings per share of $1.42. Excluding the impact of ASC 606, earnings per share of $1.44, an 11.6% increase year on year.
– Earnings guidance increased by $0.02 to reflect quarter 1 share repurchases to $5.91 – $6.11. Revenue guidance reconfirmed in the range of $2,520 – $2,640 million.

Read More