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Covance Inc Sees FY 2013 Revenue Guidance At High End Of Prior Range; Raises FY 2013 EPS Guidance; Comments On Quarterly EPS Guidance

Wednesday, 1 May 2013 11:01am EDT 

Covance Inc announced that for fiscal 2013, it raises revenue growth target to be in the high single digit range, versus its previous expectation of mid to high-single digit growth, and pro forma diluted earnings per share target to a range of $3.00 to $3.20 (excluding the gain on sale, costs associated with the Company's ongoing restructuring activities, and assuming foreign exchange rates remain at March 31, 2013 levels), versus its previous expectation of $2.85 to $3.15. The Company also expect modest sequential increases in earnings per share each quarter as the Company progress throughout the year. The Company reported revenue of $2.172 billion in fiscal 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $2.333 billion and EPS of $3.03 for fiscal 2013. 

Company Quote

-0.35 -0.34%
19 Dec 2014