Quest Diagnostics Reports Strong Revenue and Earnings Growth in First Qu... (ch 31 2008 and December 31 2007...)

Quest Diagnostics Reports Strong Revenue and Earnings Growth in First Quarter 2008

Date:4/21/2008

ch 31, 2008 and

December 31, 2007, respectively 2.1 2.1

Additional paid-in capital 2,223.9 2,210.8

Retained earnings 2,177.9 2,057.7

Accumulated other comprehensive income 51.6 25.3

Treasury stock, at cost; 19.3 and 19.7 shares

at March 31, 2008 and December 31, 2007,

respectively (953.5) (971.7)

Total stockholders' equity 3,502.0 3,324.2

Total liabilities and stockholders' equity $8,646.3 $8,565.7

Quest Diagnostics Incorporated and Subsidiaries

Consolidated Statements of Cash Flows

For the Three Months Ended March 31, 2008 and 2007

(in millions)

(unaudited)

Three Months Ended

March 31,

2008 2007

Cash flows from operating activities:

Net income $139.6 $105.9

Adjustments to reconcile net income

to net cash provided by operating activities:

Depreciation and amortization 65.3 50.3

Provision for doubtful accounts 86.0 67.5

Stock-based compensation expense 21.2 16.1

Deferred income tax benefit (2.6) (8.8)

Minority share of income 7.1 6.1

Excess tax benefits from stock-based

compensation arrangements (0.6) (4.2)

Other, net
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Quest Diagnostics Reports Strong Revenue and Earnings Growth in First Qu...(ch 31 2008 and December 31 2007...),Health