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Quest Diagnostics Reports First Quarter 2013 Financial Results
Date:4/17/2013

MADISON, N.J., April 17, 2013 /PRNewswire/ --

  • Adjusted diluted EPS from continuing operations of $0.89, vs. $1.05 in 2012
  • Reported diluted EPS from continuing operations of $0.72, vs. $0.97 in 2012
  • Revenues from continuing operations of $1.8 billion, 6.4% below prior year
  • Full year 2013 adjusted EPS and cash flow guidance unchanged
  • Full year 2013 revenues now expected to approximate the prior year level
  • Quest Diagnostics Incorporated (NYSE: DGX), the world's leading provider of diagnostic information services, announced today that for the first quarter ended March 31, 2013, adjusted income from continuing operations was $143 million, or $0.89 per diluted share, compared to $169 million, or $1.05 per diluted share, for 2012.

    For the first quarter of 2013, reported income from continuing operations was $116 million, or $0.72 per diluted share, compared to $156 million, or $0.97 per diluted share, in 2012. Income from continuing operations in the first quarter of 2013 was reduced by $45 million, or $0.17 per diluted share, related to restructuring and integration costs. In the first quarter of 2012, income from continuing operations was reduced by $0.08 per diluted share related to restructuring, integration and CEO succession costs.

    Revenues from continuing operations were $1.8 billion for the first quarter, 6.4% below the prior year. Diagnostic information services revenues decreased 6.7%. Volume, measured by the number of requisitions, declined 3.4% versus the prior year, with approximately 2% due to fewer business days and approximately 0.5% due to the comparison with an unseasonably mild winter in 2012. The UMass acquisition added about 1% to both volume and revenue growth. Revenue per requisition was 3.4% below the prior year, principally driven by reduced reimbursement.

    For the first quarter of 2013
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    SOURCE Quest Diagnostics Incorporated
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