Clinical research group Icon has reported net profits of $4 million for the quarter up to the end of August.
Icon chief executive Dr John Climax said the second quarter has started well after first-quarter performance gave the group an "excellent" start to the 2003 fiscal year.
The contract clinical research company said it won $54 million of net new business during the first quarter. Icon said first-quarter net revenues rose 29 per cent to $46.9 million, with income from operations up 27 per cent to $5.2 million.
Diluted earnings per share increased 22 per cent to 33 cents compared to 27 cents in same quarter last year.
The group also said chairman and co-founder Dr Ronan Lambe will retire as chairman on November 1st and Dr Climax will replace him. Mr Peter Gray, ICON's chief operating officer, will take over Dr Climax's role as CEO.
PA