Market Commentary and Intraday News
Icon 2Q profit slips on restructuring costs
304 days ago
(AP:NEW YORK) Icon PLC's net income fell 39 percent in the second quarter on restructuring charges and other costs.
Icon is based in Dublin, and it provides development services to drug and medical device makers. The company's revenue climbed 19 percent in the second quarter, but its income decreased after it took a $5.6 million charge to cover restructuring costs and other items.
The company said its net income fell to $8 million, or 13 cents per share, from $13.1 million, or 21 cents per share. Excluding one-time items, Icon said its income totaled 21 cents per share. Revenue increased to $277 million from $233 million.
Analysts expected a profit of 22 cents per share excluding one-time costs and $266 million in revenue, according to FactSet.
Shares of Icon lost 55 cents, or 2.4 percent, to $22.54 in morning trading.
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