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Quest Diagnostics Reports Growth in Revenue and Earnings for Fourth Quarter 2008 and Provides 2009 Guidance
Date:1/26/2009

$0.87 $(0.03) $2.97 $1.74 
    2) Results for the year ended December 31, 2008 include pre-tax
       charges of $16.2 million recorded during the fourth quarter of 2008
       primarily associated with workforce reductions.  Of these costs,
       $7.7 million and $8.5 million, respectively, were included in cost
       of services and selling, general and administrative expenses.  In
       addition, for 2008 management estimates the impact of hurricanes in
       the third quarter of 2008 reduced consolidated revenue growth and
       operating income by approximately $10 million and $8 million,
       respectively.

       Results for the year ended December 31, 2007 include pre-tax charges
       of $10.7 million recorded in the first quarter of 2007 associated
       with workforce reductions in response to reduced volume levels.  Of
       these costs, $3.9 million and $6.8 million, respectively, were
       included in cost of services and selling, general and administrative
       expenses.

    3) Other operating (income) expense, 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 year ended December 31, 2007, other operating (income)
       expense, net includes a $4.0 million charge recorded in the first
       quarter of 2007 related to in-process research and development
       expense associated with HemoCue, which the Company acquired on
       January 31, 2007.

    4) Other 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
       year ended December 31, 2008, other expense, net includes a third
       quarter charge of $8.9 
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SOURCE  Quest Diagnostics
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