Navigation Links
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

research products and European toxicology services, as well as a $2.3 million foreign exchange headwind.  Early Development pro forma operating margin (when excluding charges in all periods), increased 190 basis points year-on-year to 13.9%, but did not expand sequentially as we had forecasted due primarily to operating losses incurred in research products this quarter.  This lower demand for our research products caused us to reassess inventory levels and the fair value of an equity investment in a supplier.  In Late-Stage Development, net revenues grew 10.0% year-on-year driven by the continued strong performance in our clinical development services. Pro forma operating margin of 20.0% exceeded our expectations due to increased profitability in our central laboratory, which grew revenues sequentially on a constant currency basis for the second consecutive quarter.

"On the commercial front, adjusted net orders in the fourth quarter were a record $759 million, representing an adjusted book-to-bill of 1.42 to 1.  We were particularly pleased to see continued strong orders in clinical development and a further increase in orders in our central laboratory for the second consecutive quarter.  The ongoing strength of our service portfolio, as evidenced by our strong 2011 orders, gives us confidence to continue our investments to drive future growth.

"Looking ahead, we are making strategic investments in our information technology infrastructure and applications to increase the productivity of our drug development services, drive operating efficiencies, and arrest the long-term rate of growth of our information technology spending.  In addition to the implementation of our central laboratory system, which we previously disclosed as a $10 million incremental spend, we are funding three additional strategic projects to help us achieve these objectives. In total, these four projects will increase our IT capital expenditures to appr
'/>"/>

SOURCE Covance Inc.
Copyright©2010 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Related biology technology :

1. Covance Decides to Pursue Its Original Preclinical Strategy in China
2. Covance and Lilly Finalize 10-Year, $1.6 Billion Strategic R&D Collaboration
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
8. Covance Elects John McCartney to Companys Board of Directors
9. Covance to Present at the Drug Information Associations 45th Annual Meeting
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
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/28/2014)... Appistry, Inc. , a leading provider ... of genomics to next-generation medicine, announced today its judging ... , Two Appistry staff will be joined by ... Genome Resources, and Mr. Neil Miller, director of informatics ... Rounding out the panel are Appistry’s Dr. Richard Mazzarella, ...
(Date:7/28/2014)... (PRWEB) July 28, 2014 The global ... billion by 2020, according to a new study by ... the rising demand for effective vaccines and drugs in ... unmet medical needs is expected to drive market demand ... to enhance agricultural productivity via the use of genetically ...
(Date:7/28/2014)... Texas and COLLEGE STATION, Texas , ... hotel theatlashotel.com will be a 177-key, 4-star boutique ... in Bryan , Texas.  Photo ... As the first hotel within ATLAS ... include 177 rooms, a mixture of standard rooms and suites, a ...
(Date:7/28/2014)... 2014 The National Model Aviation Museum, ... is pleased to announce that it has been granted ... the United States Air Force. , The certification is ... concluded this spring with an on-site inspection by Sarah ... , The National Museum of the United States ...
Breaking Biology Technology:Appistry Names Industry Experts from the National Center for Genome Resources and Mercy Children's, Kansas City, to Judge Pipeline Challenge Competition 2Global Biotechnology Market Worth $604.40 Billion by 2020: Grand View Research, Inc 2Global Biotechnology Market Worth $604.40 Billion by 2020: Grand View Research, Inc 3Global Biotechnology Market Worth $604.40 Billion by 2020: Grand View Research, Inc 4Texas' Biocorridor Announces the Atlas Hotel, Centerpiece of Mixed Use Community for Biotech Industry 2Texas' Biocorridor Announces the Atlas Hotel, Centerpiece of Mixed Use Community for Biotech Industry 3Texas' Biocorridor Announces the Atlas Hotel, Centerpiece of Mixed Use Community for Biotech Industry 4AMA’s National Model Aviation Museum Granted Full Civilian Museum Certification by the National Museum of the United States Air Force 2
... N.Y., May 28 XTL,Biopharmaceuticals Ltd. (Nasdaq: XTLB ... has been appointed to XTL,s Board of Directors.,The appointment, ... members., Mr. Charney, 61, recently retired from his ... international assurance, tax, transaction and,advisory services firm, having served ...
... Three Oncology Products in Clinic -, - Lead Candidate Targets Hormone Refractory Prostate and ... ... a.m. Pacific ... Time -, BOTHELL, WA and VANCOUVER, May 28 /PRNewswire-FirstCall/ - ...
... of a new collaborative website initially focusing on proteins ... technology underlying the site has been developed based upon ... access journal Genome Biology, WikiProteins provides a method for ... article is written by Barend Mons of the Erasmus ...
Cached Biology Technology:XTL Biopharmaceuticals Announces Appointment of Laurence N. Charney to Board of Directors 2XTL Biopharmaceuticals Announces Appointment of Laurence N. Charney to Board of Directors 3Sonus Pharmaceuticals and OncoGenex Technologies to Merge 2Sonus Pharmaceuticals and OncoGenex Technologies to Merge 3Sonus Pharmaceuticals and OncoGenex Technologies to Merge 4Sonus Pharmaceuticals and OncoGenex Technologies to Merge 5Sonus Pharmaceuticals and OncoGenex Technologies to Merge 6Sonus Pharmaceuticals and OncoGenex Technologies to Merge 7Sonus Pharmaceuticals and OncoGenex Technologies to Merge 8Large-scale community protein annotation -- WikiProteins 2
(Date:7/29/2014)... The University of Maryland Schools of Dentistry (UM ... that they have received a five-year $10.7 million ... and Infectious Diseases (NIAID) of the National Institutes ... treatment of sexually-transmitted diseases (STDs). The grant, which ... program, represents a new direction for the research ...
(Date:7/29/2014)... news for parents of preterm babies latest research from ... time they become teenagers, the brains of many preterm children ... , A study conducted by the University,s Robinson Research ... child experiences no brain injury in early life, their cognitive ... their term-born peers. , However, the results of the study, ...
(Date:7/29/2014)... new study from UC San Francisco is the first ... accumulate overtime and accelerate cellular aging, these negative effects ... and sleeping well. , "The study participants who ... shortening than the ones who didn,t maintain healthy lifestyles, ... lead author Eli Puterman, PhD, assistant professor in the ...
Breaking Biology News(10 mins):University of Maryland Schools of Dentistry and Medicine receive NIH grant 2University of Maryland Schools of Dentistry and Medicine receive NIH grant 3University of Maryland Schools of Dentistry and Medicine receive NIH grant 4Preterm children's brains can catch up years later 2Healthy lifestyle may buffer against stress-related cell aging, study says 2
... The success of long term hip replacement surgery may lie ... the Annals of the Rheumatic Diseases. , The researchers analysed ... (162) had problems after hip replacement in the 10 years ... early signs of “aseptic loosening,?which describes a condition in which ...
... that the clouded leopard found on the islands of Borneo ... secretive rainforest animal was originally thought to be the same ... , Genetic analysis conducted at the U.S. National Cancer ... species is comparable to the differences between other large cat ...
... of Medicine and Pharmacology at the University of California, ... 265 twin pairs over the past few years, which ... studying many traits and genes, we have started to ... genetic variations in twins provides scientists with data on ...
Cached Biology News:New species declared: Clouded leopard on Borneo and Sumatra 2Twin studies reveal genetic components leading to cardiac and kidney disease 2Twin studies reveal genetic components leading to cardiac and kidney disease 3
... Chemicon Select Tissue Arrays are intended ... individual tissues were fixed in neutral buffered ... identification and diagnosis was performed by certified ... their paraffin blocks and relocated into a ...
... Select Tissue Arrays are intended for laboratory ... were fixed in neutral buffered formalin and ... diagnosis was performed by certified pathologists. ... blocks and relocated into a new recipient ...
... rat tissue extracts (liver, kidney, spleen, and heart) ... extract. It was also tested with microsomal fractions ... A simple and reliable method for measuring NDPase ... of the inorganic phosphate released from NDP by ...
Compound(s) tested through a broad panel of 38 ligand binding and enzyme assays targeting the Central Nervous System. Used to determine selecitivty and potential CNS-Side Effect liabilities of compo...
Biology Products: