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

(481) 795 (1,546) Gain on sale of business (655) (949) (655) (3,927) ---- ---- ---- ------ Other expense (income), net 746(a) (2,931)(b) 217(a) (9,570)(c) --- ------ --- ------ Income before taxes and equity investee earnings 59,251(a) 70,386(b) 115,723(a) 139,762(c) Taxes on income 16,051(a) 20,330(b) 32,400(a) 41,053(c) Equity investee (loss) earnings (210) 817 (38) 1,266 ------- ------- ------- ------- Net income $42,990(a) $50,873(b) $83,285(a) $99,975(c) ======= ======= ======= ======= Basic earnings per share $0.67(a) $0.81(b) $1.31(a) $1.59(c) Weighted average shares outstanding - basic 63,823,792 62,825,444 63,705,105 63,069,018 Diluted earnings per share $0.67(a) $0.80(b) $1.30(a) $1.56(c) Weighted average shares outstanding - diluted 64,193,664 63,756,789 64,024,143 64,058,649 (a) Includes the impact of a $655 gain on sale of Cardiac Safety Services ($426 net of tax) during the second quarter of 2009. (b) Includes the impact of a $949 gain on sale of Cardiac Safety Services ($617 net of tax) during the second quarter of 2008. (c) Includes the impact of a $3,927 gain on sale of Cardiac Safety Services ($2,553 net of tax) during the first six months of 2008. Excluding the impact of the gain on sale of business: ----------------------------------------------------- Income before taxes and equity investee earnings $58,596 $69,
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