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Covance Reports First Quarter Revenue of $441M and EPS of $0.63; Updates Full Year Financial Targets
Date:4/29/2009

Net cash provided by operating activities 9,229 35,792 ----- ------ Cash flows from investing activities: Capital expenditures (40,302) (62,576) Acquisition of business, net of cash acquired (18,620) - Proceeds from sale of business - 2,978 Other, net 12 77 -- -- Net cash used in investing activities (58,910) (59,521) ------- ------- Cash flows from financing activities: Net borrowings under revolving credit facility 30,000 43,000 Payment of debt assumed upon acquisition of business (5,431) - Stock issued under employee stock purchase and option plans 3,028 8,461 Purchase of treasury stock (2,103) (129,607) ------ -------- Net cash provided by (used in) financing activities 25,494 (78,146) ------ ------- Effect of exchange rate changes on cash (6,965) 15,014 ------ ------ Net change in cash and cash equivalents (31,152) (86,861) Cash and cash equivalents, beginning of period 221,334 319,485 ------- ------- Cash and cash equivalents, end of period $190,182 $232,624 ==
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Related biology technology :

1. Covance Opens New Clinical Development Offices in Chile, Peru and Expands Argentina Office
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3. Covance Increases Early Clinical Footprint in Europe with Acquisition of Swiss-Based Early Clinical Development Site
4. Covance Purchases Equity Stake in Caprion Proteomics
5. Covance and Lilly Finalize 10-Year, $1.6 Billion Strategic R&D Collaboration
6. Covance Decides to Pursue Its Original Preclinical Strategy in China
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8. Covance to Present at The R.W. Baird 2008 Growth Stock Conference
9. Covance to Present at Merrill Lynch Global Pharmaceutical, Biotechnology and Medical Device Conference
10. Covance Reports Full-Year 2007 Revenue Growth Of 15.4% and Seventh Consecutive Year of EPS Growth in Excess of 20%
11. Covance Inc. Invites You to Join the Webcast of Its Third Quarter 2007 Financial Results Conference Call

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