ICON plc (NASDAQ: ICLR) announced that the company has scheduled Tuesday, July 27, 2004 at 6:00 EST [11:00 GMT / 12:00 CET] as the date for the release of its audited fourth quarter and full year fiscal 2004 results.
ICON will acquire the 70% interest in Beacon for a cash consideration of $9.9 million, which includes an investment in new equity of $2.0 million.
Net revenues for the quarter were $66.0 million, representing a 54% increase over net revenues of $43.0 million for the same quarter last year.
The release is now scheduled for Monday, July 21, 2003 at 6:00 EST [11:00 GMT / 12:00 CET].
The offering includes1,500,000 ADSs to be sold by certain selling shareholders named in the registration statement (the “Selling Shareholders”) and a new financing of 1,500,000 ADSs by ICON.
Dr. John Climax, the Chairman of ICON, stated that the company will announce its audited results for the year ended May 31, 2003, on July 29, 2003 and that the company remained comfortable with current consensus analyst estimates for the year.
Net revenues for the quarter were $59.3 million, representing a 50% increase over net revenues of $39.6 million for the same quarter last year.
A registration statement relating to the ordinary shares underlying the ADSs has been filed with the SEC but has not yet become effective.
The acquisition marks ICONs first entry into this area of research. In its most recent fiscal year, Medeval reported revenues of approximately $15 million.
Net revenues for the quarter were $53.5 million, representing a 42% increase over net revenues of $37.8 million for the same quarter last year.