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Covance Reports Fourth Quarter Revenue of $532M, GAAP EPS of $0.35, Pro Forma EPS of $0.73, and Adjusted Net Orders of $759M
Date:1/25/2012

Income from operations47,493137,591-185,084Other expense (income), net:  Interest expense (income), net5252  Foreign exchange transaction loss, net3,6493,649Other expense (income), net3,701--3,701Income before taxes and equity investee earnings43,792137,591-181,383Tax (benefit) expense(23,655)49,98117,29843,624Equity investee earnings807807Net income $
8,254$
87,610$
(17,298)$
38,566Basic earnings per share$
.08$
.39$
(0.27)$
2.20Weighted average shares outstanding - basic63,043,56163,043,56163,043,56163,043,561Diluted earnings per share$
.06$
.36$
(0.27)$
2.15Weighted average shares outstanding - diluted64,472,32664,472,32664,472,32664,472,326(1) Represents asset impairment charges totaling $119,229 and restructuring costs totaling $18,362 incurred in connection with capacity rationalization, streamlining operations and other cost reduction actions.(2) Represents favorable resolutions of income tax matters.
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SOURCE Covance Inc.
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Related biology technology :

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3. Covance Purchases Equity Stake in Caprion Proteomics
4. Covance Increases Early Clinical Footprint in Europe with Acquisition of Swiss-Based Early Clinical Development Site
5. Jina Ventures Advises Swiss Pharma Contract on Strategic Sale to Covance Inc
6. Covance Opens New Clinical Development Offices in Chile, Peru and Expands Argentina Office
7. Covance Reports First Quarter Revenue of $441M and EPS of $0.63; Updates Full Year Financial Targets
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10. Covance Appoints Dr. Steven M. Michael as Vice President and Chief Scientific Officer of Global Bioanalytical Services
11. Covance to Sell Its Interactive Voice and Web Response Services and Enter Into a Multi-Year Marketing Agreement with Phase Forward
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