Covance, Inc. (CVD) Reports In-Line Q1 EPS, FY Rev. Guidance Falls Short

Covance, Inc. (NYSE: CVD) reported Q1 EPS of $0.90, in-line with the analyst estimate of $0.90. Revenue for the quarter came in at $620 million versus the consensus estimate of $632.01 million.

Covance, Inc. sees FY2014 EPS of $3.70-$3.95, versus the consensus of $3.85.

"Looking ahead, we expect increases of a few cents in earnings per share each quarter as we progress throughout the year. We are narrowing our 2014 financial expectations to revenue growth of 6% to 9% and pro forma diluted earnings per share of $3.70 to $3.95 (excluding the gain on sale, costs associated with our on-going restructuring activities and assuming foreign exchange rates remain at March 31, 2014 levels)."

For earnings history and earnings-related data on Covance, Inc. (CVD) click here.

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