Covance Q4 Profit Up - Quick Facts

(RTTNews) - Covance Inc. (CVD) Tuesday reported fourth-quarter profit of $45.8 million or $0.80 per share, up from $33.9 million or $0.61 per share in the same period last year. Adjusted earnings for the quarter was $49.6 million or $0.87 per share. On average, 18 analysts polled by Thomson Reuters expected the company to earn $0.84 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased 10.8 percent to $623.1 million from $562.2 million last year. Analysts expected revenues of $614.56 million.

Looking ahead to 2014, the company currently projects pro-forma earnings in the range of $3.65 to $4.00 per share, with revenue growth in the order of 6 percent to 10 percent. Analysts currently expect full-year earnings of $3.81 per share.