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Covance Reports Full-Year 2007 Revenue Growth Of 15.4% and Seventh Consecutive Year of EPS Growth in Excess of 20%
Date:1/30/2008

60 289,704

Deferred income taxes 32,562 31,052

Other liabilities 59,275 53,627

Total Liabilities 449,997 374,383

Stockholders' Equity:

Common stock 746 734

Paid-in capital 492,373 426,806

Retained earnings 933,106 757,809

Other Comprehensive Income:

Cumulative translation

adjustment 45,328 35,170

FAS 158 adjustment (21,174) (23,389)

Treasury stock (340,191) (273,835)

Total Stockholders' Equity 1,110,188 923,295

Total Liabilities and

Stockholders' Equity $1,560,185 $1,297,678

COVANCE INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE YEARS ENDED DECEMBER 31, 2007 AND 2006

(Dollars in thousands)

Years Ended December 31

2007 2006

Cash flows from operating activities:

Net income $175,929 $144,998

Adjustments to reconcile net income

to net cash provided by

operating activities:

Depreciation and amortization 66,197 57,388

Non-cash compensation expense

associated with employee benefit

and stock compensation plans 26,508 30,397

Deferred income tax (benefit)

provision (4,903) 561

Gain on sale
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SOURCE Covance Inc.
Copyright©2008 PR Newswire.
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