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Covance Reports Second Quarter Revenue of $466M and EPS of $0.66
Date:7/29/2009

lities, net (13,033) (6,676) ------- ------ Net cash provided by operating activities 58,636 85,848 ------ ------ Cash flows from investing activities: Capital expenditures (70,911) (143,163) Acquisition of business, net of cash acquired (18,620) - Proceeds from sale of business 655 3,927 Other, net 15 96 -- -- Net cash used in investing activities (88,861) (139,140) ------- -------- Cash flows from financing activities: Net borrowings under revolving credit facility 8,000 35,000 Payment of debt assumed upon acquisition of business (5,431) - Stock issued under employee stock purchase and option plans 5,189 14,691 Purchase of treasury stock (2,316) (130,427) ------ -------- Net cash provided by (used in) financing activities 5,442 (80,736) ----- ------- Effect of exchange rate changes on cash 7,800 10,198 ----- ------ Net change in cash and cash equivalents (16,983) (123,830) Cash and cash equivalents, beginning of period 221,334 319,485 ------- ------- Cash and cash equivalents, end of period
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