ICON Reports First Quarter 2015 Highlights Quarter 1 net revenue increased 11% year on year to $388 million, a 13% increase on a constant organic dollar basis. Income from operations was $66.7 million or 17.2% of revenue

Reports First Quarter 2015

1 net revenue increased 11% year on year to $388 million, a 13%

increase on a constant organic dollar basis.

from operations was $66.7 million or 17.2% of revenue as reported.

Excluding a one off foreign exchange revaluation gain, operating

margin equated to 16.4%.

per share were 90 cents. Excluding the one off foreign exchange

revaluation gain, earnings per share were 86 cents.

business wins were $516 million, representing a gross book to bill of

1.33. Net business wins were $454 million, representing a net book to

result of foreign exchange movements, 2015 earnings guidance increased

from a range of $3.45 - $3.60 to a range of $3.60 - $3.70 and revenue

decreased from a range of $1,610 - $1,675 million to a range of $1,600

DUBLIN--(BUSINESS WIRE)--April 28, 2015--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 first quarter ended March

In the first quarter net revenue grew 11% year on year to $388.2 million

from $349.6 million in the same quarter last year.

Income from operations was $66.7 million or 17.2% of revenue, compared

to $43 million or 12.3% for the same quarter last year.

Net income was $56 million or 90 cents per share on a diluted basis,

compared with $36.2 million or 57 cents per share for the same quarter

Operating income margin in quarter 1 included a one off foreign exchange

revaluation gain of approximately $2.9 million. When this is excluded,

operating income margin in the quarter equated to 16.4% and earnings per

share were 86 cents.

Taking into account recent foreign exchange movements, earnings guidance

for the full year 2015 has been increased from a range of $3.45 - $3.60

to a range of $3.60 - $3.70 and revenue decreased from a range $1,610 -

$1,675 million to a range of $1,600 - $1,650 million.

Days sales outstanding, comprising accounts receivable and unbilled

revenue less payments on account, were 47 days at March 31, 2015,

compared with 40 days at the end of December 2014.

For the quarter ended March 31, 2015, cash generated from operating

activities was $61.1 million and capital expenditure was $10.7 million.

In addition during the quarter, the acquisition of MediMedia Pharma

Solutions was completed for an initial cash consideration of $105

million. Consequently the company's net cash amounted to $172 million at

March 31, 2015, compared to net cash of $216 million at December 31,

CEO Ciaran Murray commented, "Our first quarter represents a

solid start to 2015. Revenue grew by 13% year on year on a constant

dollar organic basis. Excluding the one-time foreign exchange benefit,

our operating margins expanded to 16.4% and earnings per share were 86

cents, an increase of 51% over last year. During the quarter we

saw a further strengthening of the US dollar and as a result we have

increased earnings guidance for the full year from a range of $3.45 -

$3.60 to a range of $3.60 - $3.70 and decreased revenue guidance from a

range of $1,610 - $1,675 million to a range of $1,600 - $1,650 million."

In addition to the financial measures prepared in accordance with

generally accepted accounting principles (GAAP), this press release

contains certain non-GAAP financial measures, including non-GAAP

operating and net income and non-GAAP diluted earnings per share. While

non-GAAP financial measures are not superior to or a substitute for the

comparable GAAP measures, ICON believes certain non-GAAP information is

useful to investors for historical comparison purposes.

ICON will hold its first quarter conference call today, April 28, 2015

at 9:00 EST [14:00 Ireland & UK]. This call and linked slide

presentation can be accessed live from our website at http://investor.iconplc.com.

A recording will also be available on the website for 90 days following

the call. In addition, a calendar of company events, including upcoming

conference presentations, is available on our website, under

"Investors". This calendar will be updated regularly.

This press release contains forward-looking statements. These statements

are based on management's current expectations and information currently

available, including current economic and industry conditions. These

statements are not guarantees of future performance or actual results,

and actual results, developments and business decisions may differ from

those stated in this press release. The forward-looking statements are

subject to future events, risks, uncertainties and other factors that

could cause actual results to differ materially from those projected in

the statements, including, but not limited to, the ability to enter into

new contracts, maintain client relationships, manage the opening of new

offices and offering of new services, the integration of new business

mergers and acquisitions, as well as economic and global market

conditions and other risks and uncertainties detailed from time to time

in SEC reports filed by ICON, all of which are difficult to predict and

some of which are beyond our control. For these reasons, you should not

place undue reliance on these forward-looking statements when making

investment decisions. The word "expected" and variations of such words

and similar expressions are intended to identify forward-looking

statements. Forward-looking statements are only as of the date they are

made and we do not undertake any obligation to update publicly any

forward-looking statement, either as a result of new information, future

events or otherwise. More information about the risks and uncertainties

relating to these forward-looking statements may be found in SEC reports

filed by ICON, including its Form 20-F, F-1, S-8 and F-3, which are

available on the SEC's website at http://www.sec.gov.

ICON plc is a global provider of drug development solutions and services

to the pharmaceutical, biotechnology and medical device industries. The

company specialises in the strategic development, management and

analysis of programs that support clinical development - from compound

selection to Phase I-IV clinical studies. With headquarters in Dublin,

Ireland, ICON currently, operates from 81 locations in 38 countries and

has approximately 11,200 employees. Further information is available at www.iconplc.com.

Investor Relations, 1-888-381-7923

Brennan, + 353 -1-291-2000

Chief Financial Officer