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Quest Diagnostics Reports Second Quarter 2013 Financial Results
Date:7/18/2013

MADISON, N.J., July 18, 2013 /PRNewswire/ --

  • Adjusted diluted EPS from continuing operations of $1.06, vs. $1.15 in 2012
  • Reported diluted EPS from continuing operations of $0.99, vs. $1.09 in 2012
  • Revenues from continuing operations of $1.8 billion, 3.3% below prior year
  • Full year 2013 revenues now expected to be 1% to 2% below prior year
  • Full year 2013 EPS range narrowed to  $4.35 to $4.50
  • Sales of HemoCue and ibrutinib royalty rights for approximately $800 million provide flexibility to drive shareholder value, consistent with our capital deployment strategy
  • Announces new Chief Financial Officer to join company July 29
  • Quest Diagnostics Incorporated (NYSE: DGX), the world's leading provider of diagnostic information services, announced today that for the second quarter ended June 30, 2013, adjusted income from continuing operations was $164 million, or $1.06 per diluted share, compared to $185 million, or $1.15 per diluted share, for 2012.

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    For the second quarter of 2013, reported income from continuing operations was $153 million, or $0.99 per diluted share, compared to $175 million, or $1.09 per diluted share, in 2012. Income from continuing operations in the second quarter of 2013 was reduced by $12 million, or $0.07 per diluted share, of restructuring and integration costs related to the company's ongoing efforts to drive operational excellence and simplify the organization. In the second quarter of 2012, income from continuing operations was reduced by $0.06 per diluted share related to restructuring, integration and CEO succession costs.

    Revenues from continuing operations were $1.8 billion for the second quarter, 3.3% below the prior year. D
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    SOURCE Quest Diagnostics Incorporated
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