Now please turn to Slide 6 to discuss segment results. In Early Development, in the fourth quarter, net revenues were $24 million or 6.3% increase year-on-year, net of a minor 10 basis points headwind from foreign exchange. While we experienced year-over-year growth in most service areas, the leading drivers of the increase were robust growth in our Clinical Pharmacology services and the inclusion of our full quarter results from our Alnwick, U.K., Portugal -- Alnwick, U.K, and Portugal, France sites in the quarter compared to only 2 months of operations in 2010.Sequentially, revenues declined $5.7 million, with FX accounting for 40% of the decline. Strong sequential growth in Discovery Support Services was more than offset by a sharp decline in Research Product revenues, and to a lesser extent, a decline in our legacy European Toxicology services. North American Toxicology services were flat sequentially.
Covance's CEO Discusses Q4 2011 Results - Earnings Call Transcript
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