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January 26, 2006
By: Tim Wright
Covance 4Q Revenues: $343 million (+21%) 4Q Earnings: $30 million (+9%) FY Revenues: $1.3 billion (+18%) FY Earnings: $119.6 million (+22%) Comments: Early development revenues for the quarter grew 24% to $151 million. Full-year revenues grew 17.4% to $562.2 million. Late-stage development revenues for the quarter were $171.4 million, up 16.4% and revenue growth for the year was 16.4% to $631 million. During the year, the company’s backlog increased $210 million, or 14.4%, to a record $1.67 billion.
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