Managed Care Business Week
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Covance, Inc.
Company reports strong earnings growth of 28% to $0.46 per share
August 16th, 2005
Covance, Inc., (CVD) reported earnings for its second quarter ended June 30, 2005 of $0.46/diluted share and net revenue of $294 million. "Covance again delivered strong financial results highlighted by acceleration in revenue growth to 17.1%, backlog growth of 19.6%, and EPS [earnings per share] growth of 27.8%," said Joe Herring, president and CEO. "Our market-leading laboratory-based service offerings - toxicology in early development and central laboratory in late-stage development - each achieved strong revenue and margin growth during the second quarter. Early development net revenue grew 15.8% and late-stage development net revenue grew 18.3% over last...
Source: Managed Care Business Week (2005-08-16)
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