Recruitment of staff recommenced in US at the end of the quarter following faster than expected replacement of the scaled back project. As a result diluted earnings per share was 68 cents for fiscal 1999 compared to 49 cents for fiscal 1998. These capital expenditures were primarily related to new headquarters in the US and a major extension to the group headquarters in Ireland, together with significant expenditures on new IT systems. We also recently hired key employees for new offices in Israel and Singapore, both of which will commence operations within the next three months. These steps demonstrate our confidence in our global strategy and in the strength of our business.
ICON provides contract clinical research services to the pharmaceutical industry world-wide.
It currently has 11 offices in eight countries and has approximately 650 employees world-wide. These statements involve risks and uncertainties that could cause actual results to differ materially including, without limitation, actual operating performance, the ability to maintain large client contracts or enter into new contracts, the ability to manage the opening of new offices, and the ability to maintain client relationships.