Covance Q3 Profit Rises - Quick Facts

(RTTNews) - Covance Inc. (CVD) Tuesday reported third-quarter profit of $44.2 million or $0.78 per share, up from $37.8 million or $0.69 per share in the same period last year.

Adjusted earnings for the quarter was $47.3 million or $0.83 per share. On average, 17 analysts polled by Thomson Reuters expected the company to earn $0.80 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased 11.4 percent to $606.7 million from $544.8 million last year. Analysts expected revenues of $595.35 million.

Looking ahead, the company projects full-year 2013 pro-forma earnings at $3.20 per share, compared to its previous guidance range of $3.10 to $3.20 per share. Analysts currently expect full-year earnings of $3.17 per share.