ICON Issues Financial Guidance for Full Year 2017
2017年1月10日 - 6:15AM
ビジネスワイヤ(英語)
Highlights
- Full Year 2017 Revenue guidance in the
range of $1,700 - $1,750 million, representing growth of 2 -
5%.
- Full Year 2017 Earnings per share
guidance in the range of $5.00 - $5.20, representing growth of 6 -
11%.
ICON plc (NASDAQ:ICLR), a global provider
of drug development solutions and services to the pharmaceutical,
biotechnology and medical device industries, today announced its
financial guidance for the year ended December 31, 2017. For the
full year 2017 revenue will be in the range of $1,700 - $1,750
million, representing growth of 2 - 5% and earnings per share will
be in the range of $5.00 - $5.20, representing growth of 6 -
11%.
CEO Ciaran Murray commented “We expect 2017 to be another year
of revenue and earnings growth for ICON. Our success in developing
new customer relationships has further diversified our customer
base and we expect to grow revenue by 2 - 5% while reducing the
full year concentration of our largest customer to circa 15 - 17%.
We continue to see good demand across all of our service lines from
large pharma customers alongside a continuing flow of business from
mid-size, speciality pharma and device companies. In addition to
this organic growth we will continue to deploy capital to maximize
shareholder value through a combination of “bolt-on” M&A that
will enhance our capabilities and share repurchases.”
The full year 2017 financial guidance assumes:
- Top customer concentration to reduce to
circa 15 - 17% of revenue from circa 24 - 26% in 2016.
- US dollar to Euro exchange rate of
$1.05 (constant currency revenue growth of circa 3 - 6%).
- An effective tax rate of circa
14%.
- Circa $300 million of free cash flow
and capital expenditures of circa $45 million.
- $110 million worth of shares
repurchased in Q4 2016 from current $400 million repurchase
programme contributing circa 10c to 2017 earnings.
- Remaining authorisation of $290 million
to be executed opportunistically during 2017 depending on cash
commitments to support M&A pipeline, no additional earnings
benefit included in guidance.
With respect to 2016, the company confirmed its current
guidance, of earnings in the range of $4.60 - $4.80 and revenue in
the range of $1,665 - $1,680 million.
ICON will be presenting at the JP Morgan Healthcare Conference
on January 10th at 8:00am PT (11:00am EST, 4:00pm
Ireland & UK). This presentation and follow-on Q&A can
be accessed live from the ICON website at
http://investor.iconplc.com. A recording will also be available on
the website for 90 days following the call.
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 drug development solutions and
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 88 locations in 37 countries and has approximately
12,600 employees. Further information is available at
www.iconplc.com.
ICON/ICLR-F
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version on businesswire.com: http://www.businesswire.com/news/home/20170109006072/en/
ICONInvestor Relations 1-888-381-7923orBrendan BrennanChief
Financial Officer+ 353 –1-291-2000orSimon HolmesEVP Investor
Relations and Corporate Development+ 353 –1-291-2000
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