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Early development revenues were $205.0 million (+7%).
April 29, 2010
By: Tim Wright
Editor-in-Chief, Contract Pharma
Covance 1Q 1Q Revenues: $505.0 million (+9%) 1Q Earnings: $39.1 million (+3%) Comments: Early development revenues were $205.0 million (+7%). Late-stage development revenues were $276.9 million (+11%). The company’s backlog at March 31, 2010 grew 8% to $4.8 billion. Foreign exchange negatively impacted backlog growth by approximately $37 million. Adjusted net orders (adjusted for dedicated capacity contracts) were $490 million in quarter....
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