Navigation Links
Covance Reports Third Quarter Net Revenue Of $607 Million, Pro Forma EPS Of $0.83 And Adjusted Net Orders Of $732 Million
Date:10/29/2013

centive compensation expenses related to stronger-than-budgeted business performance.Cash, cash equivalents and short-term investments at September 30, 2013 were $593 million compared to $446 million at June 30, 2013 and $441 million at September 30, 2012.  Short-term debt was reduced by $60 million in the third quarter to $265 million as of September 30. As announced on October 8, Covance entered into a note purchase agreement for the private placement of $250 million in senior notes planned to be issued in November.Net Days Sales Outstanding (DSO) declined 13 days in the third quarter to 35 days at September 30, 2013 compared to 48 days at June 30, 2013 and 38 days at September 30, 2012.

Free cash flow (defined as operating cash flow less capital expenditures) for the third quarter of 2013 was $180 million, consisting of operating cash flow of $215 million less capital expenditures of $35 million.  Free cash flow year-to-date was $109 million, consisting of operating cash flow of $213 million less capital expenditures of $104 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 pro forma effective tax rate in the third quarter of 28.3% was impacted by the shift to above margin treatment of the UK R&D tax credit.  Previously this credit was recorded as a reduction to income tax expense.  As a result of UK tax legislation signed in the third quarter of 2013, but effective April 1, 2013, the company now reports the UK R&D credit as an above margin expense reduction.  The impact in the third quarter was an increase in the company's effective tax rate of approximately 900 basis points, representing a six month impact.  The fourth quarter of 2013 will reflect the UK R&D credit associated with costs incurred during only that qua
'/>"/>

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 16

Related medicine technology :

1. Covance To Present At The William Blair 32nd Annual Growth Stock Conference
2. Covance Reports Second Quarter Pro Forma Net Revenue Of $538 Million, Pro Forma EPS Of $0.65 And Adjusted Net Orders Of $701 Million
3. Covance to Present at the Morgan Stanley Global Healthcare Conference
4. Covance Reports Third Quarter Pro Forma Net Revenue Of $542 Million, Pro Forma EPS Of $0.72 And Adjusted Net Orders Of $701 Million
5. Covance To Present At The Lazard Capital Markets 9th Annual Healthcare Conference
6. Covance Reports Fourth Quarter Pro Forma Net Revenue Of $561 Million, Pro Forma EPS Of $0.73 And Adjusted Net Orders Of $769 Million
7. Covance To Present At The Leerink Swann Global Healthcare Conference
8. Covance To Present At The Citi 2013 Global Healthcare Conference
9. Covance Inc. Invites You to Join the Webcast of Its First Quarter 2013 Financial Results Conference Call
10. Covance Expands Singapore Central Laboratory by 50 Percent to Meet Clients Increased Asia Pacific Focus
11. 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
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/31/2014)... announces the list of stocks featured in the Analyst Blog. Every ... events impacting stocks and the financial markets. Stocks recently featured in ... Report ), Celgene (Nasdaq: CELG - Free Report ... ), Market Vectors Biotech ETF (AMEX: BBH - ... XBI - Free Report ). Today, Zacks is ...
(Date:10/31/2014)... 31, 2014 /CNW Telbec/ - Ergoresearch Ltd ... plan, for accelerated growth in terms of sales and ... reached $17,862,341. Net income amounted to $1,230,153. The EBITDA ... first time in the Company,s history. With ... the forces of its subsidiaries, merging in September 2014 ...
(Date:10/31/2014)... -- Though therapies are in their nascent phase, sales ... annual increase of 16.2% over the 2010-2020 period, reaching ... to Kalorama Information,s report, Stem Cell Therapeutics Markets ... have gained or are expected to gain approval from ... ever more complicated conditions, stem cell therapies hold the ...
Breaking Medicine Technology:The Zacks Analyst Blog Highlights: Amgen, Celgene, Biogen Idec, Market Vectors Biotech ETF and SPDR S&P Biotech ETF 2The Zacks Analyst Blog Highlights: Amgen, Celgene, Biogen Idec, Market Vectors Biotech ETF and SPDR S&P Biotech ETF 3The Zacks Analyst Blog Highlights: Amgen, Celgene, Biogen Idec, Market Vectors Biotech ETF and SPDR S&P Biotech ETF 4The Zacks Analyst Blog Highlights: Amgen, Celgene, Biogen Idec, Market Vectors Biotech ETF and SPDR S&P Biotech ETF 5The Zacks Analyst Blog Highlights: Amgen, Celgene, Biogen Idec, Market Vectors Biotech ETF and SPDR S&P Biotech ETF 6The Zacks Analyst Blog Highlights: Amgen, Celgene, Biogen Idec, Market Vectors Biotech ETF and SPDR S&P Biotech ETF 7Results for the fourth quarter and the fiscal year ended June 30, 2014 - Ergoresearch reports solid 2014 annual results 2Results for the fourth quarter and the fiscal year ended June 30, 2014 - Ergoresearch reports solid 2014 annual results 3Results for the fourth quarter and the fiscal year ended June 30, 2014 - Ergoresearch reports solid 2014 annual results 4Results for the fourth quarter and the fiscal year ended June 30, 2014 - Ergoresearch reports solid 2014 annual results 5Report: Stem Cell Technologies Market Growing 2
... 20 Santaris Pharma announced today that,the fourth ... In the USA,several patients with cancer have now ... jointly developed by Santaris Pharma and Enzon,Pharmaceuticals. The ... Pharma­ceutical,s Investigational New Drug (IND) application,for the use ...
... Expands Overseas TBI TrialCOSTA MESA, Calif., March 19 ... that the company has received a letter from the ... forward" as a basis to resume clinical studies of ... therapeutic oxygen carrier.The letter was in response to the ...
Cached Medicine Technology:Another LNA-based RNA Inhibitor Enters Clinical Trials 2Another LNA-based RNA Inhibitor Enters Clinical Trials 3Oxygen Biotherapeutics, Inc. Receives Letter From FDA Outlining Path Forward to Resume Oxycyte Clinical Trials in TBI in U.S.A. 2Oxygen Biotherapeutics, Inc. Receives Letter From FDA Outlining Path Forward to Resume Oxycyte Clinical Trials in TBI in U.S.A. 3
(Date:10/31/2014)... HealthDay Reporter THURSDAY, Oct. 30, 2014 (HealthDay ... is nothing new. The first kidney transplant took place ... and the first human heart transplant in 1967. By 2010, ... face. One major organ still eludes the transplant surgeon, ... U.S. scientists has its way, that dream may become reality, ...
(Date:10/31/2014)... year, people across the United States spend an estimated ... which costs $522 billion, according to new research. ... the time and wages that caregivers give up every ... daily activities. The study authors said the significant financial ... flexibility policies. "Our findings provide a new and ...
(Date:10/30/2014)... Einstein College of Medicine of Yeshiva ... their latest aging research at the Gerontological Society ... include the identification of a genotype that can ... the cellular biology of aging. GSA 2014 will ... "Einstein-Montefiore has distinguished itself in a range of ...
(Date:10/30/2014)... research group at the DFG Research Center for Regenerative ... Dresden (CRTD) demonstrated for the first time the in ... three dimensions from mouse embryonic stem cells. Correct spatial ... the dorsal/ventral axis was observed., This study has been ... Cell Reports " on 30.10.2014 ., For many years ...
(Date:10/30/2014)... Graphics, coding, typography and search engine optimization– ... of web design and require thorough knowledge to create ... to create a website can be as easy as ... reviews and Facebook posts all accumulate on a multiple ... evolution of how a business can develop a website," ...
Breaking Medicine News(10 mins):Health News:Scientists Set Their Sights on First Whole-Eye Transplant 2Health News:Scientists Set Their Sights on First Whole-Eye Transplant 3Health News:'Informal Care' for Older Americans Tops $500B Annually, Study Finds 2Health News:Einstein-Montefiore investigators present aging research at Gerontological Society of America's Annual Scientific Meeting 2Health News:Einstein-Montefiore investigators present aging research at Gerontological Society of America's Annual Scientific Meeting 3Health News:Einstein-Montefiore investigators present aging research at Gerontological Society of America's Annual Scientific Meeting 4Health News:Reconstruction of a patterned piece of spinal cord in 3-D culture 2Health News:Facebook Websites In Thirty-Seconds 2
... clarify the disease,s connection to obesity , , TUESDAY, Dec. 30 ... their blood appear to be more likely to develop breast ... might be the link between obesity and breast cancer, say ... York City. High insulin levels have already been associated with ...
... variant had cancer as well as idiopathic pulmonary fibrosis, study ... mutation in a gene previously found to help protect the ... and some inherited cases of a lethal lung disease affecting ... in the SFTPA2 gene have been found in ...
... resident Gary Balady, MD, a cardiologist in the Division ... of medicine at the Boston University School of Medicine ... by Castle Connolly Medical Ltd. , The America,s Top ... is a trusted and authoritative resource for identifying top ...
... cruciate ligament (ACL) reconstruction can be difficult, but a review of ... edition of Sports Health: A Multidisciplinary Approach highlights how the use ... issues. , ... Rosemont, IL (Vocus) December 30, 2008 ...
... Treat Diseases (HTDS) www.htdsmedical.com (temporary site up ... it has registered with Pink Sheets for its back ... information including updating last 2 years financial statements. The ... a "Yield" rank from the current "STOP" no information ...
... with fish oil can improve health and cholesterol levels, however, new ... Approach highlights the effects of the omega fish oil on professional ... ... -- Researchers have firmly established that supplementing a diet with fish ...
Cached Medicine News:Health News:High Insulin May Boost Odds of Breast Cancer 2Health News:Gene Mutation Tied to Inherited Fatal Lung Disease 2Health News:BMC, Boston University School of Medicine cardiologist named 1 of America's Top Doctors 2Health News:Adding Eccentric Resistance Training Improves Muscle Strength Following ACL Surgery 2Health News:Adding Eccentric Resistance Training Improves Muscle Strength Following ACL Surgery 3Health News:Study Shows Fish Oils Dramatically Improve Cholesterol Levels in Professional Football Players 2Health News:Study Shows Fish Oils Dramatically Improve Cholesterol Levels in Professional Football Players 3
... ARUP Laboratories is a national reference laboratory ... research and development. ARUP offers an extensive ... medical tests in clinical and anatomic pathology. ... Laboratories' clients include more than half of ...
... ARUP Laboratories is a national reference laboratory ... research and development. ARUP offers an extensive ... medical tests in clinical and anatomic pathology. ... Laboratories' clients include more than half of ...
... a national reference laboratory and a worldwide ... ARUP offers an extensive test menu of ... clinical and anatomic pathology. Owned by the ... more than half of the nation's university ...
... ARUP Laboratories is a national reference laboratory ... research and development. ARUP offers an extensive ... medical tests in clinical and anatomic pathology. ... Laboratories' clients include more than half of ...
Medicine Products: