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Quest Diagnostics Reports Second Quarter 2014 Financial Results
Date:7/24/2014

MADISON, N.J., July 24, 2014 /PRNewswire/ --

  • Revenues from continuing operations of $1.9 billion, up 4.8% versus prior year
  • Adjusted diluted EPS from continuing operations of $1.08, up 1.9% versus  prior year
  • Reported diluted EPS from continuing operations of $0.92, 7% below prior year
  • Cash from operations of $280 million, up 34% versus prior year
  • Full year 2014 revenues now expected to be up 2.5% to 3.5%, versus up 2% to 4% previously
  • Full year 2014 adjusted diluted EPS range narrowed to  $4.00 to $4.10 from $3.95 to $4.15 previously
  • Quest Diagnostics Incorporated (NYSE: DGX), the world's leading provider of diagnostic information services, announced today that for the second quarter ended June 30, 2014, adjusted income from continuing operations was $157 million, or $1.08 per diluted share, compared to $164 million, or $1.06 per diluted share, for 2013.

    For the second quarter of 2014, reported income from continuing operations was $133 million, or $0.92 per diluted share, compared to $152 million, or $0.99 per diluted share, in 2013. Income from continuing operations in the second quarter of 2014 was negatively impacted by $24 million, or $0.16 per diluted share, primarily related to restructuring and integration costs associated with recent acquisitions and the company's ongoing efforts to drive operational excellence and simplify the organization. In the second quarter of 2013, income from continuing operations was reduced by $0.07 per diluted share related to restructuring and integration costs.

    Revenues from continuing operations were $1.9 billion for the second quarter, 4.8% better than the prior year. Diagnostic information services revenues increased 5.3% compared to a year ago.  Volume, measured by the number of requisitions, increased 7.7% versus the prior year and revenue per
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    SOURCE Quest Diagnostics Incorporated
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