ICON plc (ICLR), a contract research organization, Friday revised its earnings outlook for 2008, but the cut the revenue forecast, citing currency factors. The company now sees earnings of $1.27 - $1.29 per share for the year ended December 31, 2008, an increase on the previous guidance. On average, 12 analysts polled by First Call/Thomson Financial expect earnings of $1.29 per share. Analysts' estimates typically exclude one-time items.
Revenue for 2008 is expected in the range of $862-$865 million, a reduction on the previous guidance due to currency factors. Analysts have a consensus 2008 revenue estimate of $872.73 million.
2009 net income per share is expected in the range of $1.40-$1.52. The Street looks for earnings of $1.55 per share. Net revenue for 2009 is expected in the range of $930-$980 million. Analysts have a consensus revenue estimate of $1.03 billion for 2009.
ICLR closed Thursday's regular trade at $20.46, lower than the previous close of $20.51, on 817,100 shares.
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