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

ervices.  Net revenues for the fourth quarter of 2011 grew 10.0% year-on-year to $298.0 million, primarily driven by the continued strong performance in clinical development and a 190 basis point tailwind in foreign exchange.  On a sequential basis, revenues declined $5.0 million due to a $10.1 million foreign exchange headwind, which more than offset growth across the segment's service offerings, at constant exchange rates.

GAAP operating income for the fourth quarter was $58.2 million and included $1.3 million in costs associated with our restructuring actions. Pro forma operating income, excluding these costs, was $59.5 million, compared to $58.4 million last quarter and $54.7 million in the fourth quarter of the prior year. Pro forma operating margins, excluding these costs, were 20.0% for the fourth quarter of 2011 compared to 19.3% last quarter and 20.2% in the fourth quarter of last year. The sequential increase in profitability was primarily due to stronger central laboratory performance.

Corporate InformationThe Company's backlog at December 31, 2011 was $6.14 billion compared to $6.08 billion at September 30, 2011 and $6.19 billion at December 31, 2010. Foreign exchange negatively impacted sequential backlog growth by $75 million.  

Corporate expenses totaled $37.0 million in the fourth quarter of 2011 (including $2.7 million in restructuring costs) compared to $38.4 million last quarter (including $1.4 million in restructuring costs) and $39.9 million in the fourth quarter of last year.

During the fourth quarter, the company recorded a $12.1 million charge to recognize an impairment in the carrying value of an equity investment in a supplier of research products.  This charge is reflected as a component of other income (expense) in the consolidated statements of income.

Cash and cash equivalents at December 31, 2011 were $389 million compared to $400 million at September 30, 2011 and $377 million
'/>"/>

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:9/18/2014)... , September 18, 2014 ... ( http://www.researchandmarkets.com/research/czvg3s/biocompatible ) has announced the ... - Global Strategic Business Report" ... http://photos.prnewswire.com/prnh/20130307/600769) ,This report analyzes the worldwide ... Million by the following Product Segments: ...
(Date:9/18/2014)... -- Research and Markets has announced ... Report 2014" report to their offering. ... is a professional and in-depth study on the ... The report provides a basic overview of ... chain structure. The N-acetylcysteine market analysis is provided ...
(Date:9/18/2014)... Sept. 18, 2014  U.S. biotech company Kultevat ... exclusive license for technology developed by the Donald ... in plants, including for applications in production of natural ... The technology was developed under the direction of ... and former president of the Danforth Plant Science Center, ...
(Date:9/18/2014)... , Pennsylvanie, 18 septembre 2014 ... en 1974, a été depuis 40 ... les évaluations cliniques traditionnelles par des évaluations ... et sur les impacts économiques des traitements. ... A cours d,une récente ...
Breaking Biology Technology:Biocompatible Materials - Global Strategic Business Report 2014 2Biocompatible Materials - Global Strategic Business Report 2014 3Global N-acetylcysteine Industry Report 2014 2Kultevat obtains license of gene switch technology 21974 - 2014 - Mapi fĂȘte ses 40 ans 2
... Agencourt offers primer walking sequencing of PCR products, plasmid inserts , ... in either raw or , purified form and ... Select from either single stranded coverage for confirmation sequencing , ... purposes. , ...
... , , ... sequence delineation on capillary electrophoresis, instrumentation. CleanSEQ has ... system with the, ABI 3700 and 3730xl sequencers. ... prone to evaporation and exposure to, air before ...
... , Agencourts RNAClean kit provides a ... purifying nucleic acid products generated in common enzymatic , ... formatted for microarray , gene expression analysis experiments ... automated formats. RNAClean eliminates the need for vacuum filtration or , ...
Cached Biology Technology:Primer Walking 2CleanSEQ on the ABI 3100 2CleanSEQ on the ABI 3100 3CleanSEQ on the ABI 3100 4RNAClean - RNA & cDNA in vitro Reaction Purification 2
(Date:9/18/2014)... to acquire and creatively manipulate spoken language is unique ... past 6 million years of human evolution to make ... best candidate gene we now have," says Wolfgang Enard, ... his efforts to understand the molecular biological basis of ... The results of his latest study, undertaken in collaboration ...
(Date:9/18/2014)... happy-go-lucky characters, so you might expect that most would ... fact some dogs are distinctly more pessimistic than others, ... "This research is exciting because it measures positive and ... offers researchers and dog owners an insight into the ... Melissa Starling, from the Faculty of Veterinary Science. Her ...
(Date:9/18/2014)... that when people are too stressed they are often ... Brain Mind Institute (BMI) at EPFL have just highlighted ... chronic stress and the loss of social skills and ... a synaptic regulatory molecule in the brain. This was ... . , Carmen Sandi,s team went to look ...
Breaking Biology News(10 mins):Language evolution: Quicker on the uptake 2Language evolution: Quicker on the uptake 3Dogs can be pessimists too 2Dogs can be pessimists too 3How stress tears us apart 2
... For Immediate Release A group of researchers at ... Institute has published a paper that reviews new strategies ... whether people are predisposed to developing common conditions like ... age, the entire DNA sequences, or "genomes," of humans ...
... immune cell that directs other cells to fight infection ... in both health and disease. Researchers from the University ... stimulatory molecule and a protein found on the membrane ... multi-taskers of sorts. Th17 cells protect the body against ...
... ARLINGTON, Va. - To expand collaboration and initiatives, the ... be held Nov. 8-10, will explore a wide range ... explosive devices. Hosted by the Office of Naval ... Hyatt Regency in Crystal City, Va., and will feature ...
Cached Biology News:Scientists describe new approach for identifying genetic markers for common diseases 2Scientists describe new approach for identifying genetic markers for common diseases 3Penn study shows 2-sided immune cell could be harnessed to shrink tumors 2
... The MEGAscript RNAi Kit is ... large mass amounts of ready-to-use ... non-mammalian systems. The MEGAscript RNAi ... patented high-yield transcription technol-ogy and ...
UGT1A6 (D-20)...
... With its patented technology, the Lone Wolf ... any Normally Open proportional valve available on ... operation, provides repeatable high-speed performance, and ensures ... , Enhances system control and patient ...
Normal Hamster Serum...
Biology Products: