Download - ICON Quarter 1, 2009 Results ended March 31, 2009 Dr. John Climax, Chairman Mr. Peter Gray, CEO
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ICONQuarter 1, 2009 Results ended March 31, 2009
Dr. John Climax, Chairman
Mr. Peter Gray, CEO
Mr. Ciaran Murray, CFO
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Certain statements contained herein including, without limitation,
statements containing the words “believes,” “anticipates,” “intends,”
“expects” and words of similar import, constitute forward-looking
statements concerning the Company's operations, performance,
financial condition and prospects. Because such statements involve
known and unknown risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking
statements. Given these uncertainties, prospective investors are
cautioned not to place undue reliance on such forward-looking
statements. The Company undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
Forward Looking Statement
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$201.3m$219.8m
Q1 2008 Q1 2009
Quarterly Net Revenue Growth
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$21.5m
$26.9m
Q1 2008 Q1 2009
Quarterly Operating Income
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10.7%11.2%
12.0% 12.0% 12.2%
Q1 2008 Q2 2008 Q3 2008 Q4 2008 Q1 2009
Operating Margins(After charging non-cash stock compensation expense (SFAS123R))
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11.0%11.5%
12.5% 12.3% 12.5%
Q1 2008 Q2 2008 Q3 2008 Q4 2008 Q1 2009
Quarterly Clinical Core Operating Margin
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Quarterly Central Laboratory Operating Margin
7.5% 7.8% 7.1%8.8% 9.4%
Q1 2008 Q2 2008 Q3 2008 Q4 2008 Q1 2009
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35c
28c
Q1 2008 Q1 2009
$20.9m
$16.9m
Quarterly Earnings per Share and Net Income
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Quarter ended
Mar 31, 2009
Year ended
Dec 31, 2008
Cash from operating
activities 24.7 81.3
Capital Expenditure 8.1 67.9
Net Debt (2.2) (4.3)
Net Accounts Receivable 210.3 230.3
DSOs 59 Days 69 Days
Balance Sheet$ million
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Outlook
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Business Wins
$394m
$440m
$393m
$296m
$321m
$369m
$337m$350m
$261m$265m
Q1 2008 Q2 2008 Q3 2008 Q4 2008 Q1 2009
Gross Awards
Net Awards
1.21.2
1.6
1.8
1.5
Book to Bill
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$1,784m$1,748m$1,736m$1,633m$1,486m
Q1 2008 Q2 2008 Q3 2008 Q4 2008 Q1 2009
Total Backlog
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$673m$707m
$763m$752m
$690m
Q1 2008 Q2 2008 Q3 2008 Q4 2008 Q1 2009
77%76%77%
74%71%
Backlog forecast to be earned in the next12 months (US$ & % of total forecasts)
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Questions &
Answers
Dr John Climax, Chairman
Mr Peter Gray, CEO
Mr Ciaran Murray, CFO
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Q1 net revenues ↑ 9%
Q1 income from operations ↑ 25%
Q1 Operating margin of 12.2%
Q1 EPS ↑ 25%
Book-to-bill ratio 1.2 Acquired a 100 bed Phase I unit in Omaha,
Nebraska
Summary Quarter 1, 2008