NET REVENUE at Dublin-based clinical trials provider Icon rose by 2 per cent on the same quarter last year to $224 million (€172.4 million). However, the company has warned that full year figures would be at the lower end of the guidance given in February, sending its shares down 9 per cent in the US. It fared better in Dublin, closing down half a per cent at €20.

The company, which provides outsourced clinical trial services to the pharmaceutical, biotechnology and medical device industries, reported year-to-date net revenues of $443 million, representing a 1 per cent increase over the same period last year.

The company, founded in Dublin in 1990 by Dr John Climax and Dr Ronan Lambe, reported income from operations of $25.7 million or 11.5 per cent of revenue, compared to $29.3 million or 13.3 per cent for the same quarter last year.

Net income was $22.9 million or 38 cents a share on a diluted basis, compared to $22.8 million or 38 cents a share last year.

Icon chief executive Peter Gray said: “Overall, we are pleased with our second quarter. Our net booking of $320 million was particularly satisfying, resulting in a strong book to bill of 1.4 and the growth in our backlog to $1.9 billion.

“However, we are not expecting revenue growth to respond quickly to these awards and . . . we anticipate the outcome for 2010 will be at the lower end of the guidance range given in February”.

Ciarán Murray, the company’s chief financial officer, said: “While our performance is somewhat down on previous years, it’s in line with guidance.”

Icon employs more than 7,300 people in 39 countries, including 600 people at its headquarters in Leopardstown, Dublin. The company manages clinical trials for its clients, also collecting analysing and reporting on the results of those trials.

The company’s customers include Eli Lilly, AstraZeneca, Sanofi-aventis and Elan.