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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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Related biology technology :

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5. Jina Ventures Advises Swiss Pharma Contract on Strategic Sale to Covance Inc
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7. Covance Reports First Quarter Revenue of $441M and EPS of $0.63; Updates Full Year Financial Targets
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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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