ICON Reports Third Quarter 2013 Revenue of $340 Million, up 19% Year on Year, EPS of 45C and Raises FY 2013 Guidance. Highlights - Third Quarter Fiscal 2013. Quarter 3 net revenue increased 19% year on year to $340 milli

Reports Third Quarter 2013 Revenue of $340 Million, up 19% Year on Year,

EPS of 45C and Raises FY 2013 Guidance.

- Third Quarter Fiscal 2013.

3 net revenue increased 19% year on year to $340 million.

from operations was $33.2 million or 9.8% of revenue.

per share was 45 cents.

business wins were $471 million, representing a gross book to bill of

1.4. Net business wins were $415 million, representing a net book to

Guidance updated: Revenue in the range of $1,325 million - $1,330

million and EPS in the range of $1.67 - $1.70.

DUBLIN--(BUSINESS WIRE)--October 24, 2013--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 third quarter ended

Net revenues grew 19% year on year to $339.8 million from $285.5 million

Income from operations was $33.2 million or 9.8% of revenue, compared to

$20.9 million or 7.3% for the same quarter last year.

Net income was $27.8 million or 45 cents per share on a diluted basis,

compared with $17.7 million or 29 cents per share last year.

Year to date net revenues for 2013 increased 22% to $991 million from

$815 million in 2012.

Year to date income from operations, excluding restructuring charges,

was $91.5 million or 9.2% of revenue, compared with $49.3m or 6.0% of

revenue in the previous year.

Year to date net income, excluding restructuring charges, was $76.5

million or $1.23 per share on a diluted basis, compared with $39.6

million or 66 cents per diluted share last year.

Year to date income from operations on a GAAP basis was $82.5 million,

and year to date net income on a GAAP basis was $69.3 million or $1.12

Guidance for the full year 2013 has been updated with revenue expected

to be in the range of $1.325 billion - $1.33 billion and EPS guidance in

the range of $1.67 - $1.70.

Days sales outstanding, comprising accounts receivable and unbilled

revenue less payments on account, were 40 days at September 30, 2013,

compared with 40 days at the end of December 2012.

For the quarter ended September 30, 2013, cash generated from operating

activities was $43.6 million, after expenditure of $15.1 million on

prior period acquisition earn outs and capital expenditure of $6.2

million. The company's net cash amounted to $218.6 million at September

30, 2013, compared to net cash of $190 million at December 31, 2012.

CEO Ciaran Murray commented, "For the quarter we are reporting

revenue growth of 19% year on year and operating margins of 9.8%. We

booked $415 million of net new business wins or a book to bill of 1.2,

leaving us with a closing backlog of $2.97 billion. Consequently we are

raising our revenue guidance to the range of $1.325 -$1.330 billion and

our earnings per share guidance to the range of $1.67-$1.70 for the

financial year 2013."

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 third quarter conference call today, October 24, 2013

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.

The statements made in this press release may contain forward-looking

statements that involve a number of risks and uncertainties. In addition

to the matters described in this press release, the ability to maintain

large client contracts or enter into new contracts, maintain client

relationships and the ability to manage the opening of new offices, the

integration of new business mergers and acquisitions, as well as other

risks and uncertainties detailed from time to time in reports filed with

the US Securities and Exchange Commission by ICON, including its Form

20-F, F-1, S-8 and F-3, may affect the actual results achieved by ICON.

ICON disclaims any intent or obligation to update these forward-looking

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 77 locations in 38 countries and has

approximately 10,300 employees. Further information is available at www.iconplc.com.

Consolidated Income Statements (Unaudited)

(Before restructuring and other items)

Three and Nine Months ended September 30, 2013 and September 30, 2012

(Dollars, in thousands, except share and per share data)

Consolidated Income Statements (Unaudited)

Three and Nine Months ended September 30, 2013 and September 30, 2012

(Dollars, in thousands, except share and per share data)

Simon Holmes, EVP IR &

Corporate Development