ICON's Central Lab returns to profit ahead of guidance

By Lisa Kerner

Charlotte, N.C., June 26 - ICON said it expects its Central Lab business unit to return to profitability in the second quarter ending June 30, a quarter earlier than expected by company management.

"We are very pleased that strong revenue growth in the lab, supported by excellent new business wins, has accelerated our return to profitability in this unit," chief executive officer Peter Gray said in a company news release.

"Our core clinical business continues to perform in line with plans."

ICON, based in Dublin, Ireland, provides development services to the pharmaceutical, biotechnology and medical device industries.

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