Navigation Links
Covance Reports Second Quarter Net Revenue of $592 Million, Pro Forma EPS of $0.78 and Record Adjusted Net Orders of $776 Million
Date:7/30/2013

orted second quarter adjusted net orders of $776 million. Backlog at June 30, 2013 was $6.73 billion compared to $6.61 billion at March 31, 2013 and $6.23 billion at June 30, 2012. Foreign exchange contributed $27 million to backlog on a sequential basis. 

Corporate expenses totaled $49.9 million in the second quarter of 2013 (including $2.3 million in restructuring costs) compared to $51.3 million last quarter (including $0.7 million in restructuring costs) and $38.9 million in the second quarter of 2012 (including $0.3 million in restructuring costs). The largest driver of the year-over-year increase in corporate expenses is spending on our strategic IT initiatives followed by higher incentive compensation expenses related to stronger-than-budgeted business performance.  Sequentially, the decline was driven by lower expenses in a number of areas, which offset increased spending on our strategic IT initiatives.

Cash and cash equivalents at June 30, 2013 were $446 million compared to $430 million at March 31, 2013 and $398 million at June 30, 2012.  Debt outstanding remained at $325 million.

Net Days Sales Outstanding (DSO) were 48 days at June 30, 2013 compared to 41 days at March 31, 2013 and 35 days at June 30, 2012.

Free cash flow (defined as operating cash flow less capital expenditures) for the second quarter of 2013 was $13 million, consisting of operating cash flow of $51 million less capital expenditures of $38 million.  Free cash flow year-to-date was negative $71 million, consisting of operating cash flow of negative $3 million less capital expenditures of $68 million.
In 2013, we continue to expect free cash flow to be at least $125 million, net of capital expenditures of approximately $160 million.  The free cash flow target for 2013 assumes net DSO at 40 days at December 31, 2013.

The Company's investor conference call will be webcast on July 31 at 9:00 am ET.  Management's commenta
'/>"/>

SOURCE Covance Inc.
Copyright©2012 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Related medicine technology :

1. Covance Central Laboratory Services Again Ranks #1 in Global Investigator Satisfaction Survey
2. Covance To Present At The Goldman Sachs 34th Annual Global Healthcare Conference
3. Covance Reports First Quarter Net Revenue Growth Of 9.3% To $580 Million, Pro Forma EPS Of $0.75 And Adjusted Net Orders Of $716 Million
4. Covance Expands Singapore Central Laboratory by 50 Percent to Meet Clients Increased Asia Pacific Focus
5. Covance Inc. Invites You to Join the Webcast of Its First Quarter 2013 Financial Results Conference Call
6. Covance To Present At The Citi 2013 Global Healthcare Conference
7. Covance To Present At The Leerink Swann Global Healthcare Conference
8. Covance Reports Fourth Quarter Pro Forma Net Revenue Of $561 Million, Pro Forma EPS Of $0.73 And Adjusted Net Orders Of $769 Million
9. Covance To Present At The Lazard Capital Markets 9th Annual Healthcare Conference
10. Covance Reports Third Quarter Pro Forma Net Revenue Of $542 Million, Pro Forma EPS Of $0.72 And Adjusted Net Orders Of $701 Million
11. Covance to Present at the Morgan Stanley Global Healthcare Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/5/2015)... the Netherlands , May 5, 2015 ... lower esophageal sphincter (LES) stimulation therapy for gastroesophageal ... and efficacy results. The results demonstrated an excellent ... regurgitation and the "gold-standard" esophageal acid exposure (measured ... of dependence on daily PPI medications. ...
(Date:5/5/2015)... --Research and Markets ( http://www.researchandmarkets.com/research/9pthtm/home_healthcare ) has ... Market - Forecast to 2020" report to their ... to reach more than $300+ billion growing at a ... equipment market is expected to grow at a faster ... is gaining a tremendous attention over hospitals for the ...
(Date:5/5/2015)... Calif., May 5, 2015 Isis Pharmaceuticals, Inc. ... income of $4.0 million for the three months ended ... operating loss of $22.6 million for the same period ... to higher revenue from milestone payments earned from its ... a GAAP basis, Isis reported a loss from operations ...
Breaking Medicine Technology:Excellent three year results of EndoStim therapy for severe reflux disease presented at the SAGES Annual Meeting in Nashville. 2Excellent three year results of EndoStim therapy for severe reflux disease presented at the SAGES Annual Meeting in Nashville. 3Global Home Healthcare Global Market 2015 - Forecast to 2020 for the $300 Billion Market 2Isis Reports Financial Results and Highlights for First Quarter 2015 2Isis Reports Financial Results and Highlights for First Quarter 2015 3Isis Reports Financial Results and Highlights for First Quarter 2015 4Isis Reports Financial Results and Highlights for First Quarter 2015 5Isis Reports Financial Results and Highlights for First Quarter 2015 6Isis Reports Financial Results and Highlights for First Quarter 2015 7Isis Reports Financial Results and Highlights for First Quarter 2015 8Isis Reports Financial Results and Highlights for First Quarter 2015 9Isis Reports Financial Results and Highlights for First Quarter 2015 10Isis Reports Financial Results and Highlights for First Quarter 2015 11Isis Reports Financial Results and Highlights for First Quarter 2015 12Isis Reports Financial Results and Highlights for First Quarter 2015 13
(Date:5/6/2015)... TX (PRWEB) May 06, 2015 The ... opened its first freestanding emergency room in Chandler on ... Health Arizona General Hospital, which is also part of ... celebrate the grand opening, Dignity Health Arizona General Hospital ... Chandler Chamber of Commerce and donated $5,000 to Campo ...
(Date:5/6/2015)... London, England (PRWEB) May 06, 2015 ... exploding with new drinks. Little Miracles organic tea and ... by natural Panax ginseng and sweetened with agave, these ... popular consumer movement that seeks healthier ways to hydrate. ... 6, Little Miracles invites people to raise a bottle ...
(Date:5/5/2015)... (PRWEB) May 06, 2015 Social Media ... Make Social Media Your Most Powerful Marketing Tool and ... Washington, DC, http://www.fdanews.com/SocialMedia , Social media … ... of social media’s reach. Patients are using it — ... doctors about what they’ve discovered. , But, it can ...
(Date:5/5/2015)... May 05, 2015 With the FCPX LUT: ... quickly and easily add washed color grades to footage. A ... for modifying an image. The LUT changes every pixel's color ... comes with 90 washed CUBE LUT files. , This plugin ... can give any footage a washed look. , CUBE ...
(Date:5/5/2015)... UAE (PRWEB) May 05, 2015 Private ... , FZ LLC has announced that its dental stem ... for Store-A-Tooth™ increased once again--in April, 2015 –and posted ... month of increased record volume and represents a significant ... Provia’s dental stem cell biobank is conducted via the ...
Breaking Medicine News(10 mins):Health News:Dignity Health and Adeptus Health Opened First Freestanding Emergency Room in Chandler, Arizona 2Health News:Dignity Health and Adeptus Health Opened First Freestanding Emergency Room in Chandler, Arizona 3Health News:Say Cheers to National Beverage Day with Little Miracles 2Health News:FDAnews Announces: Social Media Regulatory Affairs Summit, June 24-26, 2015 2Health News:FDAnews Announces: Social Media Regulatory Affairs Summit, June 24-26, 2015 3Health News:FDAnews Announces: Social Media Regulatory Affairs Summit, June 24-26, 2015 4Health News:Pixel Film Studios Announced the Release of FCPX LUT Monochromatic 2Health News:Grace Century’s Dental Stem Cell Biobank Project Announces Serial Record Enrollment Growth 2Health News:Grace Century’s Dental Stem Cell Biobank Project Announces Serial Record Enrollment Growth 3
... Obama and Secretary of State Clinton on today,s nomination of ... Global AIDS Coordinator (OGAC). AIDS Action is pleased that ... by such an accomplished HIV medical expert with extensive knowledge ... the epidemic here in the United States. We encourage ...
... , Incorporated, a leading provider of business ... services, continues to expand its portfolio of innovative ... RACSource, a financial management and appeals analysis ... SOURCECORP ,s extensive experience in denial management, ...
... Indian Oncologists Are Starting to Embrace Use of ... a Report from Decision Resources WALTHAM, Mass., April ... leading research and advisory firms focusing on pharmaceutical ... brand/generics (oxaliplatin) and Roche/Chugai,s Xeloda, Indian brand/generics (capecitabine) ...
... WASHINGTON, April 28 First quarter federal reports ... provisions of the federal economic stimulus act, contradicting ... report of its effort was "100 percent false."Google,s ... lobbying during the period including on "online health-related ...
... Mich., April 28 Richard E. Smith, M.D., an ... as the 144th president of the Michigan State Medical ... MSMS House of Delegates meeting in Grand Rapids. (Logo: ... first African American to serve as MSMS president, will ...
... university Karolinska Institutet have shown that rapid diagnostic tests ... healthcare in low and mid-income countries in the fight ... a simple blood test and, according to the results, ... receive the right treatment at no extra cost for ...
Cached Medicine News:Health News:AIDS Action Applauds Selection of Dr. Eric Goosby as Global AIDS Coordinator 2Health News:SOURCECORP(R) HealthSERVE Unveils Unique Tool for Healthcare Providers to Support Recovery Audit Contractor (RAC) Program Defense 2Health News:Sanofi-Aventis' and Roche/Chugai's Drugs Will Dominate the Indian Colorectal Cancer Drug Market Through 2013 2Health News:Consumer Watchdog: U.S. Senate Records Reveal Google Inc. Lobbying Campaign on Personal Medical Records Law Despite Internet Giant's Denials 2Health News:Consumer Watchdog: U.S. Senate Records Reveal Google Inc. Lobbying Campaign on Personal Medical Records Law Despite Internet Giant's Denials 3Health News:Richard E. Smith, M.D., Installed as President of Michigan State Medical Society 2Health News:Richard E. Smith, M.D., Installed as President of Michigan State Medical Society 3Health News:Simple blood test proves powerful ally in the fight against malaria 2
... Our ELISA products for autoimmune testing feature ... as well as specific reflex tests including ... Sm/RNP, SS-A (Ro), SS-B (La), Scl-70 and ... includes a full line of products for ...
... ELISA products for autoimmune testing feature single-well ... well as specific reflex tests including dsDNA, ... SS-A (Ro), SS-B (La), Scl-70 and Jo-1. ... a full line of products for Cardiolipins ...
... reference laboratory and a worldwide leader in ... an extensive test menu of highly complex ... anatomic pathology. Owned by the University of ... half of the nation's university teaching hospitals ...
... is a national reference laboratory and a ... development. ARUP offers an extensive test menu ... in clinical and anatomic pathology. Owned by ... include more than half of the nation's ...
Medicine Products: