ICON Reports Second Quarter 2014 and Increases Earnings Guidance Highlights - Second Quarter Fiscal 2014 Quarter 2 net revenue increased 12.5% year on year to $376 million. Income from operations was $48.3 million or 12.

Reports Second Quarter 2014 and Increases Earnings Guidance

- Second Quarter Fiscal 2014

2 net revenue increased 12.5% year on year to $376 million.

from operations was $48.3 million or 12.8% of revenue.

per share were 64 cents.

business wins were $521 million, representing a gross book to bill of

1.38. Net business wins were $458 million, representing a net book to

guidance increased from a range of $2.30 - $2.40 to a range of $2.62 -

$2.68 and revenue guidance narrowed to a range of $1,490 million -

DUBLIN--(BUSINESS WIRE)--July 30, 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 second quarter ended June

For the second quarter, net revenue grew 12.5% year on year to $376

million from $334.2 million in Q2 2013.

Income from operations, excluding restructuring and other items, was

$48.3 million or 12.8% of revenue, compared to $30.9 million or 9.3% for

the same quarter last year.

Net income, excluding restructuring and other items, was $40.8 million

or 64 cents per share on a diluted basis, compared with $26.5 million or

43 cents per share for the same quarter last year.

Revenue in the first half of 2014 increased 11.5% to $726 million from

$651 million in 2013.

Income from operations in the first half of 2014, excluding

restructuring charges, was $91.3 million or 12.6% of revenue, compared

with $58.3 million or 9% of revenue in the previous year.

Net income in the first half of 2014, excluding restructuring charges,

was $77 million or $1.22 per share on a diluted basis, compared with

$48.7 million or 79 cents per diluted share last year.

Guidance for the full year 2014 has been updated with EPS guidance

increased from a range of $2.30 - $2.40 to a range of $2.62 - $2.68 and

revenue narrowed to a range of $1.490 billion - $1.530 billion.

Days sales outstanding, comprising accounts receivable and unbilled

revenue less payments on account, were 40 days at June 30, 2014,

compared with 35 days at the end of March 2014.

For the quarter ended June 30, 2014, cash used in operating activities

was $54.9 million and capital expenditure was $6.8 million. In addition

during the quarter the acquisition of Aptiv Solutions was completed for

an initial cash consideration of $143.5m. The company's net cash

amounted to $175 million at June 30, 2014, compared to net cash of $364

million at March 31, 2014.

CEO Ciaran Murray commented, "We continue to make progress in line

with our strategic plan delivering $458 million of new business in the

quarter, representing a book to bill of 1.22. In Quarter 2 revenues grew

12.5% over 2013 and operating margins expanded to 12.8%.Consequently we

are increasing our full year EPS guidance from a range of $2.30 - $2.40

to a range of $2.62 - $2.68 and narrowing our revenue guidance to a

range of $1.490 billion - $1.530 billion."

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 second quarter conference call today, July 30, 2014

at 8:30 EST [13:30 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 outsourced development 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 83 locations in 38 countries and has

approximately 11,000 employees. Further information is available at www.iconplc.com.

Contact: Investor Relations 1-888-381-7923 or

Brendan Brennan Chief Financial Officer + 353 -1-291-2000

Simon Holmes EVP Investor Relations and Corporate Development + 353