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Quest Diagnostics Reports Fourth Quarter 2011 Financial Results; Provides Guidance for 2012
Date:1/24/2012

0;

$

$

 

$
-

$
-

$

 

Selling, general and administrative*  *  * 

 

-

-

 

Operating income

18.5

14.1

(4.4)

 

-

9.6

9.6 

 

Net income

11.3

8.6

(2.7)

 

-

5.9

5.9 

 

Diluted earnings per common share

0.07

0.05

(0.02)

 

-

0.03

0.03 

 

 

 

 

 

 

 

 

  

*

The estimated impact on operating costs of severe weather predominantly affects cost of services; with a lesser impact on selling, general, and administrative expenses. 

5)

Other operating expense, net includes special charges, and miscellaneous income and expense items related to operating activities. For the twelve months ended December 31, 2011, other operating expense, net included a first quarter 2011 pre-tax charge of $236 million associated with the agreement in principle related to Medi-Cal.  For the three and twelve months ended December 31, 2010, other operating expense, net included a $9.6 million pre-tax charge associated with the settlement of employment litigation. 6)

Results for the three and twelve months ended December 31, 2011 include discrete tax benefits of $0.08 and $0.11 per diluted share, respectively, primarily associated with certain state tax planning initiatives and the favorable resolution of certain tax contingencies.  Results for the three and twelve months ended December 31, 2010 include discrete tax benefits of $0.05 and $0.12 pe
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SOURCE Quest Diagnostics Incorporated
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