Net revenues for the quarter were $220.3 million, representing a 2.3% decrease over net revenues of $225.5 million for the comparative quarter last year. On a constant organic dollar basis revenues were similar to prior year. Year-to-date, net revenues were $660.2 million, representing a 2.3% increase over the same period last year.

Income from operations increased by 12% to $30.4 million, compared to $27.1 million for the same quarter last year. Operating margin increased to 13.8% from 12%. Net income was $24 million, compared with $21.4 million last year an increase of 12%. EPS of 40 cents per share on a diluted basis represented an increase of 14% over 35 cents per share last year.

Year-to-date income from operations, before one time net charges, was $86.6 million, compared to $73.0 million last year representing an operating margin increase to 13.1% from 11.3%. Net income before one time net charges was $67.7 million or $1.13 per share, compared with $57.1 million or 93 cents per share last year representing an increase in EPS of 22%.

Days sales outstanding, comprising accounts receivable and unbilled revenue less payments on account, were 39 days at September 30, 2009, compared to 69 days at December 31, 2008.

For the quarter ended September 30, 2009, cash provided by operating activities was $70 million and capital expenditure was $9.6 million. As a result, the company's net cash amounted to $145 million at September 30, 2009, compared to net debt of $4.3 million at December 31, 2008.

Chairman Dr. John Climax commented "I am very pleased with ICON's performance for the first nine months of 2009. Our growth in margins, operating income and earnings was very encouraging. Year to date earnings per share were up 22% over the first nine months of 2008."

"Despite the economic and industry headwinds," said CEO Peter Gray "ICON has continued to improve margins, grow earnings and significantly improve cashflows enabling us to again raise earnings guidance for 2009. While higher than normal cancellations held back net business awards, the levels of business opportunity continue to be strong and we remain optimistic for the future".

The company will hold its third quarter conference call today, October 21, 2009 at 9:00 EST [14:00 Ireland & UK]. This call and linked slide presentation can be accessed live from our website at http://www.iconplc.com. A recording will also be available on the website for 90 days following the call. In addition, a calendar of company events, including upcoming conference presentations, is available on our website, under "Investors". This calendar will be updated regularly.

In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), this press release contains certain non-GAAP financial measures, including non-GAAP operating and net income and non-GAAP diluted earnings per share. While non-GAAP financial measures are not superior to or a substitute for the comparable GAAP measures, ICON believes certain non-GAAP information is useful to investors for historical comparison purposes.

The statements made in this Press Release may contain forward-looking statements that involve a number of risks and uncertainties. In addition to the matters described in this Press Release, the ability to maintain large client contracts or enter into new contracts, maintain client relationships and the ability to manage the opening of new offices, the integration of new business mergers and acquisitions, as well as other risks and uncertainties detailed from time to time in SEC reports filed by ICON, including its Form 20-F, F-1, S-8 and F-3, may affect the actual results achieved by ICON. ICON disclaims any intent or obligation to update these forward-looking statements.

ICON plc is a global provider of outsourced development services to the pharmaceutical, biotechnology and medical device industries. The Company specialises in the strategic development, management and analysis of programs that support clinical development - from compound selection to Phase I-IV clinical studies. With headquarters in Dublin, Ireland, ICON currently, operates from 68 locations in 38 countries and has approximately 7,000 employees. Further information is available at www.iconplc.com.

Source: ICON plc

Exception caught in main.

                                                                                                             
  ICON plc                                                                                                   
                                                                                                             
  Consolidated Income Statements (Unaudited) (US GAAP)                                                       
                                                                                                             
  Three and Nine Months ended September 30, 2009 and September 30, 2008                                      
  (Dollars, in thousands, except share and per share data)                                                   
                                                                                                             
                                               Three Months Ended              Nine Months Ended             
                                               September 30,   September 30,   September 30,   September 30, 
                                               2009            2008            2009            2008          
                                                                                                             
  Gross Revenue                                317,179         313,637         936,686         914,082       
                                                                                                             
  Reimbursable expenses                        96,818          88,126          276,493         268,927       
                                                                                                             
  Net Revenue                                  220,361         225,511         660,193         645,155       
                                                                                                             
  Costs and expenses                                                                                         
  Direct costs                                 127,179         127,948         376,493         364,113       
  Selling, general and administrative          54,369          62,494          173,637         187,328       
  Depreciation and amortization                8,404           7,937           23,420          20,676        
  One -- time net charges                      -               -               8,941           -             
  Total costs and expenses                     189,952         198,379         582,491         572,117       
                                                                                                             
  Income from operations                       30,409          27,132          77,702          73,038        
                                                                                                             
  Interest expense                             (693)           (224)           (2,304)         (743)         
                                                                                                             
  Income before provision for income taxes     29,716          26,908          75,398          72,295        
                                                                                                             
  Provision for income taxes                   5,765           5,355           11,973          14,493        
  Minority interest                            -               173             -               707           
                                                                                                             
  Net income                                   23,951          21,380          63,425          57,095        
                                                                                                             
  Net income per ordinary share                                                                              
  Basic                                        $0.41           $0.37           $1.08           $0.98         
                                                                                                             
  Diluted                                      $0.40           $0.35           $1.06           $0.93         
                                                                                                             
  Weighted average number of ordinary shares                                                                 
  Basic                                        58,624,028      58,451,960      58,579,402      58,156,869    
                                                                                                             
  Diluted                                      59,953,574      61,847,265      59,781,092      61,357,893    


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 ICON plc                                                                                         
                                                                                                  
 Summary Balance Sheet Data                                                                       
                                                                                                  
                                                                                                  
 September 30, 2009 and December 31, 2008                                                         
 (Dollars, in thousands)                                                                          
                                                                                                  
                                                September 30,                        December 31, 
                                                2008                                 2008         
                                                (Unaudited)                          (Audited)    
 Cash and short-term investments                172,872                              101,104      
 Debt                                           (28,270)                             105,379      
 Net cash/(debt)                                144,602                              (4,275)      
                                                                                                  
 Accounts receivable                            191,962                              210,535      
 Unbilled revenue                               118,398                              141,727      
 Payments on account                            (172,699)                            (121,935)    
 Total                                          137,661                              230,327      
                                                                                                  
 Working Capital                                215,658                              185,957      
                                                                                                  
 Total Assets                                   922,140                              867,285      
                                                                                                  
 Shareholder's Equity                           540,854                              456,366      
                                                                                                  
                                                                                                  
 Source:                          ICON plc                                                        
                                                                                                  
 Contact:                         Investor Relations 1-888-381-7923 or                            
                                  Ciaran Murray CFO + 353 1 291 2000                              
                                  Brendan Brennan Corp FP&A + 353 1 291 2000                      
                                  all at ICON.                                                    
                                  http://www.iconplc.com                                          


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