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ICON ICON Reports First Quarter 2021 Results Highlights • • • Record net business wins in the quarter of $ 1,100 million , an increase of 27 % year on year ; a net book to bill of 1.28 . Record closing backlog of $ 10 billion , an increase of 14.0 % year on year . Quarter 1 reported revenue of $ 858.2 million representing a year on year increase of 20.0 % and 12.9 % increase on Quarter 4 2020 . Adjusted earnings per share * attributable to the Group for the quarter of $ 2.06 , an increase of 21.0 % over Quarter 1 2020 . US GAAP income from operations amounted to $ 116.0 million or 13.5 % of revenue . US GAAP net income attributable to the Group was $ 97.1 million or $ 1.82 per diluted share , compared to $ 1.62 per share for the equivalent prior year period . Strong cash generation resulting in a record net cash position of $ 595.6 million . Days sales outstanding reduced to 39 days from 55 days at March 31 , 2020 . Standalone full year 2021 revenue guidance increased from a range of $ 3,200 - $ 3,300 million to a range of $ 3,400 - $ 3,500 million , representing a year over year increase of 21.6 % -25.1 % . Standalone full year 2021 earnings per share guidance ( before transaction - related costs ) increased from a range of $ 8.10 - $ 8.50 to a range of $ 8.40 - $ 8.80 , representing a year over year increase of 28.6 % - 34.8 % . * before transaction - related costs of $ 12.9 million . Dublin , Ireland , April 28th , 2021 – ICON plc ( NASDAQ : ICLR ) , a global provider of outsourced drug and device development and commercialisation services to pharmaceutical , biotechnology , medical device and government and public health organisations , today reported its financial results for the first quarter ended March 31 , 2021 . CEO Dr. Steve Cutler commented , " I am very pleased with the strong start ICON has made to 2021 which builds on our momentum from last year . During the quarter ICON produced a record net business wins of $ 1.1 billion , an increase of 27 % year on year , growing our backlog to $ 10 billion , an increase of 14 % year on year . Revenue grew to $ 858 million , a 20 % year on year increase , and adjusted earnings per share increased by 21 % to $ 2.06 . Given our strong progress this year we are increasing our standalone 2021 revenue guidance from a range of $ 3,200 - $ 3,300 million to a range of $ 3,400 - $ 3,500 million , an increase of 21.6 % - 25.1 % year over year . And we are increasing standalone adjusted earnings per share guidance from a range of $ 8.10 - $ 8.50 to $ 8.40 - $ 8.80 , representing an increase of 28.6 % - 34.8 % year over year . Our planning for the acquisition of PRA continues and we remain on track for closing in July . We believe our strong new business performance in Q1 demonstrates our customers ' confidence in our continued operational performance and our commitment to deliver enhanced and innovative patient centred solutions . We look forward to the union of two high quality organisations to form the world's leading healthcare intelligence and clinical CRO . " First Quarter 2021 Results Gross business wins in the first quarter were $ 1,295 million and cancellations were $ 195 million . This resulted in net business wins of $ 1,100 million and a book to bill of 1.28 . Reported revenue for Quarter 1 was $ 858.2 million . This represents a year on year increase of 20.0 % or 17.9 % on a constant currency basis .