Covance Reports First Quarter Revenue of $441M and EPS of $0.63; Updates Full Year Financi...(nding - diluted 6394...)

Date:4/29/2009

nding - diluted 63,941,413 64,322,979 (a) Includes the impact of a $2,978 gain on sale of Cardiac Safety Services ($1,936 net of tax) during the first quarter of 2008. Excluding the impact of the gain on sale of business in Q1'08: -------------------------------------------------------------- Income before taxes and equity investee earnings $56,472 $66,398 Taxes on income $16,349 $19,681 Net income $40,295 $47,166 Basic earnings per share $0.63 $0.75 Diluted earnings per share $0.63 $0.73 COVANCE INC. CONSOLIDATED BALANCE SHEETS MARCH 31, 2009 and DECEMBER 31, 2008 (Dollars in thousands) March 31 December 31 2009 2008 ---- ---- (UNAUDITED) ASSETS Current Assets: Cash & cash equivalents $190,182 $221,334 Accounts receivable, net 259,035 228,951 Unbilled services 104,077 112,719 Inventory 74,607 68,206 Deferred income taxes 15,877 15,029 Prepaid expenses and other current assets 101,224 91,451 ------- ------ Total Current Assets 745,002 737,690 Property and equipment, net 883,770 860,957 Goodwill, net 123,663 105,486 Other assets 49,461 48,955
'/>"/>

SOURCE Covance Inc. Copyright©2009 PR Newswire. All rights reserved

0 GOOD

Page: 1 2 3 4 5 6 7 8 9 10 11 12
Related biology technology :

1. Covance Opens New Clinical Development Offices in Chile, Peru and Expands Argentina Office
2. Jina Ventures Advises Swiss Pharma Contract on Strategic Sale to Covance Inc
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
7. Covance and WuXi PharmaTech to Form a Joint Venture to Provide World-Class Preclinical Services in China
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