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

Date:4/29/2009

------ ------ Total Assets $1,801,896 $1,753,088 ========== ========== LIABILITIES and STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $42,924 $41,887 Accrued payroll and benefits 73,895 104,607 Accrued expenses and other current liabilities 81,797 86,521 Unearned revenue 171,655 162,556 Short-term debt 80,000 50,000 Income taxes payable 23,544 14,224 ------ ------ Total Current Liabilities 473,815 459,795 Deferred income taxes 50,684 51,385 Other liabilities 49,459 47,059 ------ ------ Total Liabilities 573,958 558,239 ------- ------- Stockholders' Equity: Common stock 760 754 Paid-in capital 560,714 551,598 Retained earnings 1,169,864 1,129,569 Accumulated Other Comprehensive (Loss) Income (28,200) (13,975) Treasury stock (475,200) (473,097) -------- -------- Total Stockholders' Equity 1,227,938 1,194,849 --------- --------- Total Liabilities and Stockholders' Equity $1,801,896 $1,753,088 ========== ========== COVANCE INC. CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE THREE MONTHS
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