Quest Diagnostics Reports Strong Performance in Third Qu...(o operating income of approximately $8 m...)

Date:11/4/2009

o operating income of approximately $8 million associated with the impact of hurricanes in the third quarter. 4) Other operating expense (income), net represents miscellaneous income and expense items related to operating activities, including gains and losses associated with the disposal of operating assets and provisions for restructurings and other special charges. For the nine months ended September 30, 2009, other operating expense (income), net includes a $15.5 million gain associated with an insurance settlement for storm related losses. 5) Other income (expense), net represents miscellaneous income and expense items related to non-operating activities, such as gains and losses associated with investments and other non-operating assets. For the nine months ended September 30, 2009, other income (expense), net includes a $7.0 million charge associated with the write-down of an investment and a $7.6 million charge associated with the early extinguishment of debt. For the three and nine months ended September 30, 2008 other income (expense), net includes a third quarter charge of $8.9 million associated with the write-down of an equity investment. 6) For the three months ended September 30, 2009, the Company repurchased approximately 1.8 million shares of its common stock at an average price of $54.10 per share for $100 million. For the nine months ended September 30, 2009, the Company repurchased approximately 7.5 million shares of its common stock at an average price of $46.86 per share for $350 million, including 4.5 million shares repurchased from SB Holdings Capital Inc., a wholly-owned subsidiary of GlaxoSmithKline plc., at an average price of $44.33 per share for $200 million. For the three and nine months ended September 30, 2009, the Company reissued 1.0 million shares
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