Net Days Sales Outstanding (DSO) decreased significantly to 36 days at December 31, 2007 compared to 47 days at September 30, 2007 and 49 days at December 31, 2006.
The Company's investor conference call will be webcast on January 31 at 9:00 am EDT. Management's commentary and presentation slides will be available through http://www.covance.com.
Covance, with headquarters in Princeton, New Jersey, is one of the world's largest and most comprehensive drug development services companies with annual revenues greater than $1.5 billion, global operations in more than 20 countries, and more than 8,700 employees worldwide. Information on Covance's products and services, recent press releases, and SEC filings can be obtained through its website at http://www.covance.com.
Statements contained in this press release, which are not historical
facts, such as statements about prospective earnings, savings, revenue,
operations, revenue and earnings growth and other financial results are
forward-looking statements pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. All such forward-looking
statements including the statements contained herein regarding anticipated
trends in the Company's business are based largely on management's
expectations and are subject to and qualified by risks and uncertainties
that could cause actual results to differ materially from those expressed
or implied by such statements. These risks and uncertainties include,
without limitation, competitive factors, outsourcing trends in the
pharmaceutical industry, levels of industry research and development
spending, the Company's ability to continue to attract and retain qualified
personnel, the fixed price nature of contracts or the loss of large
|SOURCE Covance Inc.|
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