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Financial Report: Covance 2Q

Late-Stage Development revenues in the quarter were flat at $267.0 million.

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By: Tim Wright

Editor-in-Chief, Contract Pharma

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....

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