07.29.10
Covance 2Q
2Q Revenues: $500.7 million (+2%)
2Q Earnings: $31.7 million (-26%)
YTD Revenues: $1.0 billion (+5%)
YTD Earnings: $70.8 million (-15%)
Comments: Late-Stage Development revenues in the quarter were flat at $267.0 million. Early Development revenues were $208.2 million (+4%). Backlog at June 30, 2010 grew 4% to $4.8 billion but was negatively impacted by Foreign exchange by $31 million.
2Q Revenues: $500.7 million (+2%)
2Q Earnings: $31.7 million (-26%)
YTD Revenues: $1.0 billion (+5%)
YTD Earnings: $70.8 million (-15%)
Comments: Late-Stage Development revenues in the quarter were flat at $267.0 million. Early Development revenues were $208.2 million (+4%). Backlog at June 30, 2010 grew 4% to $4.8 billion but was negatively impacted by Foreign exchange by $31 million.