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July 25, 2006
By: Tim Wright
Covance 2Q Revenues: $335 million (+14%) 2Q Earnings: $35 million (+32%) YTD Revenues: $656 million (+14%) YTD Earnings: $68 million (+32%) Comments: The company achieved record net orders of $555 million in the quarter, driving its backlog up 31% to nearly $2 billion. Early development revenues for the quarter grew 11% to $156 million and operating income increased 16% to $39 million in the quarter. Late-stage development revenues were up 16% to $179.5 million and operating income increased 6% to $28.5 million.
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