Highlights
• Quarter 4 gross business wins of $565 million, a gross book to bill of 1.40. Net business wins of $471 million, a net book to bill of 1.17. Full year net business wins of $1.9 billion, a net book to bill of 1.20.
• Quarter 4 net revenue increased 8.0% year on year on a constant currency basis to $403 million. Full Year 2015 net revenue increased 10.0% on a constant currency basis to $1,575 million.
• Quarter 4 income from operations up 24.7% year on year to $75.3 million or 18.7% of revenue. Full year 2015 income from operations up 33% to $281.5 million or 17.9% of revenue.
• Earnings per share for Quarter 4 of $1.11, up 28% year on year. Earnings per share on a pro forma full year 2015 basis were $3.98, up 39% on 2014.
• Full year 2016 revenue guidance in the range of $1,670 - $1,730 million, representing growth of 6 - 9.8%. Earnings per share guidance in the range of $4.60 - $4.80 representing an increase of 15.6 – 20.6%.
Dublin, Ireland, February 23, 2016 – ICON plc (NASDAQ: ICLR), a global provider of drug development solutions and services to the pharmaceutical, biotechnology and medical device industries, today reported its financial results for the fourth quarter and full year ended December 31, 2015.
In the fourth quarter net revenue grew 3.4% year on year to $403.3 million from $390.1 million in the same quarter last year. This represented 8.0% constant currency growth and 3.7% constant dollar organic growth year on year.
Income from operations in the quarter, increased by 24.7% to $73.3 million or 18.7% of revenue compared to $60.4 million or 15.5% for the same quarter last year.
Net income in the quarter increased by 17.5% to $63.4 million or $1.11 per share on a diluted basis, compared with $54.0 million or $0.87 per share for the same quarter last year.
Full year revenue increased by 4.8% to $1,575 million from $1,503.3 million in 2015. This represented 10.0% constant currency growth and 5.1% constant dollar organic growth year on year.
Full year income from operations increased by 33.3% to $281.5 million or 17.9% of revenue, compared with $211.1 million or 14.0% of revenue in the previous year.
Full year net income increased by 32.1% to $239.5 million, compared with $181.3 million last year. Full year earnings per share increased by 38.7% to a pro-forma $3.98 per share on a diluted basis compared to $2.87 per diluted share last year.
Full year diluted earnings per share on a US GAAP basis amounted to $3.97 compared to the pro-forma $3.98 as reported above. The difference occurs as a result of the method used to calculate the quarterly EPS versus annual EPS.
