ICON Reports Fourth Quarter 2013 Revenue of $345 million, up 15% year on year and EPS of 53c, up 56% year on year. Full Year 2013 Revenue was $1.34 billion, up 20% year on year, EPS was $1.77 up 77% year on year. Guidanc

Reports Fourth Quarter 2013 Revenue of $345 million, up 15% year on year

and EPS of 53c, up 56% year on year. Full Year 2013 Revenue was $1.34

billion, up 20% year on year, EPS was $1.77 up 77% year on year.

Guidance issued for 2014.

- Fourth Quarter and Full year ended December 31, 2013.

4 net revenue increased 15% year on year to $345 million. Full Year

2013 net revenue increased 20% to $1.34 billion.

4 operating income was $38.7 million or 11.2% of revenue. Full Year

2013 operating income before non-recurring charges was $130.2 million

per share for Quarter 4 were $0.53. Earnings per share for the full

year before non-recurring charges were $1.77.

4 gross business awards were $540 million, representing a book to bill

of 1.56. Quarter 4 net business awards were $446 million representing

a book to bill of 1.29. Full Year net new business awards were $1.6

billion, representing a book to bill of 1.23.

increased 11.6% year on year to $3.1 billion.

year 2014 revenue guidance in the range of $1,415 - $1,465 million,

representing growth of 6-10%, and earnings per share guidance in the

range of $2.05 - $2.20, an increase of 16-24%.

DUBLIN--(BUSINESS WIRE)--February 20, 2014--ICON plc,

(NASDAQ:ICLR), a global provider of outsourced development services

to the pharmaceutical, biotechnology and medical device industries,

today reported its financial results for the full year and fourth

quarter ended December 31, 2013.

For the fourth quarter net revenue grew 15% year on year to $345

million. Operating income was $38.7 million compared to $24.4 million in

the same quarter last year. Operating margin was 11.2% of revenue,

compared to 8.1% of revenue for the same quarter last year.

Net income was $33.5 million compared with $20.7 million last year

representing growth of 62%, or $0.53 per share compared to $0.34 in the

same quarter last year.

For the full year revenue grew 20% to $1.34 billion. Operating income

before restructuring and other items was $130.2 million compared to

$73.7 million last year an increase of 77%. Operating margin for the

full year 2013 was 9.7% of revenue compared with 6.6% of revenue in 2012.

On a US GAAP basis, income from operations was $121.2 million or 9.1%

compared with $68.0 million or 6.1% in the prior year.

For the full year net income before restructuring and other items was

$110.0 million, compared to $60.4 million last year and net margin was

8.2% of revenue, compared with 5.4% in 2012.

EPS before restructuring and other items for 2013 was $1.77 per share

compared with $1.00 in 2012.

On a US GAAP basis net income for the full year was $102.8 million,

compared to $55.4 million last year. Net margin for the full year 2013

was 7.7% of revenue, up from 5.0% in 2012. EPS on a US GAAP basis for

2013 was $1.65 per share compared with $0.92 in 2012.

Days sales outstanding, comprising accounts receivable and unbilled

revenue less payments on account were 32 days at December 31, 2013

compared with 40 days at December 31, 2012.

For the quarter ended December 31, 2013, cash provided by operating

activities was $97.4 million and capital expenditure was $6.1 million.

For the full year 2013 cash flow from operating activities was $221.2

million and capital expenditure was $29.5 million. In addition $92.5

million was invested on acquisitions. As a result the company's net cash

amounted to $321 million at December 31, 2013 compared to $190 million

of net cash at December 31, 2012.

CEO Ciaran Murray commented, "ICON made significant progress in 2013.

Revenue grew 20% to $1.34 billion and earnings per share increased by

77% to $1.77. During the quarter we booked $446 million of net new

business, a book to bill of 1.29x. As a result we enter 2014 with

a backlog in excess of $3 billion and consequently we are guiding

revenue in the range of $1,415 - 1,465 million an increase of 6-10% and

for earnings to increase by 16-24% in the range $2.05 - $2.20."

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 fourth quarter conference call today, February 20,

2014 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