Covance Q2 Adj. Profit Tops View - Quick Facts

(RTTNews) - Covance Inc. (CVD) reported net income for the second quarter of $41.0 million or $0.72 per share, compared to a net loss of $12.7 million or $0.23 per share in the comparable quarter last year.

Excluding items, net income for the latest second quarter was $44.5 million or $0.78 per share, up from $36.3 million or $0.65 per share in the prior year period.

Net revenue for the first quarter rose 9.1% to $592.3 million from $542.8 million in the year ago quarter.

On average, analysts polled by Thomson Reuters expected the company to earn $0.77 per share on revenue of $586.12 million for the second quarter. Analysts' estimates typically exclude special items.