Dublin-based pharmaceutical company ICON has reported revenues for the fourth quarter of $66 million, a 54 per cent increase over net revenues of $43 million for the same quarter last year.
Excluding the impact of acquisitions, revenue growth for the quarter was 34 per cent over the same quarter last year.
Overall, for the year ending May 31st, 2003, net revenues were $225.7 million, a 44 per cent increase over net revenues of $156.6 million reported for fiscal year 2002.
Excluding the impact of acquisitions revenue growth was 33 per cent for the 12 months ending May 31st, 2003.
Diluted earnings per share also increased 39 per cent for the fourth quarter to $0.43 cents compared to $0.31 cents in same quarter last year.
Full year diluted earnings per share were $1.50 compared to $1.16 for fiscal 2002.
The Company announced that it had entered into an agreement with Bank of Ireland and Ulster Bank for a credit line of $60 million, $40 million of which will be available for corporate development, with the remaining $20 million for working capital purposes.