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