Dublin-based clinical research organisation ICON has reported net revenues for the fourth quarter of $43 million.
This represents a 36 per cent increase over net revenues of $31.5 million for the same quarter last year.
Income from operations was $5.1 million, an increase of 50 per cent, on the $3.4 million reported for the fourth quarter last year.
The operating margin for the quarter was 11.8 per cent, compared to 10.7 per cent for the comparable period last year. Net income for the quarter was $3.8 million or 31 cents per share, compared with $3.1 million or 25 cents per share for the fourth quarter last year.
In the year to May 31st, 2002, net revenues were $156.6 million, representing a 35 per cent increase over net revenues of $116.2 million reported for fiscal 2001.
ICON chief executive Dr John Climax said: "We began the new fiscal year with 78 per cent of forecast revenues already booked. As the first quarter has progressed this percentage has further strengthened, business flows have remained strong, even through the summer period, and cancellation rates have remained muted.
"We are therefore very confident in the outlook for fiscal 2003 and are comfortable with current estimates".