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

s, compared to $516 million, or 14.3% of revenues, in 2013. Cash provided by operations was $364 million, compared to $255 million in the first six months of 2013.

Outlook for 2014For 2014, the company estimates results from continuing operations, before special items, as follows:

  • Revenues expected to increase 2.5% to 3.5% compared to the prior year, versus previous guidance of up 2% to 4%;
  • Adjusted diluted EPS to be between $4.00 and $4.10, versus previous guidance of between $3.95 and $4.15;
  • Cash provided by operations to approximate $900 million, unchanged; and
  • Capital expenditures to approximate $300 million, unchanged
  • Note on Non-GAAP Financial MeasuresAs used in this press release, the term "adjusted" refers to the operating performance measures that exclude restructuring, integration and other charges. Adjusted measures are presented because management believes those measures are useful adjuncts to reported results under accounting principles generally accepted in the United States.  Adjusted measures should not be considered as an alternative to the corresponding measures determined under accounting principles generally accepted in the United States. The attached tables include reconciliations of adjusted measures to measures reported under accounting principles generally accepted in the United States.

    Conference Call InformationQuest Diagnostics will hold its quarterly conference call to discuss financial results beginning at 8:30 a.m. Eastern Time today. The conference call can also be accessed in listen-only mode by dialing 415-228-4961, passcode 3214469. The company suggests participants dial in approximately 10 minutes before the call.  A replay of the call may be accessed online at www.QuestDiagnostics.com/investor or by phone at 888-673-3572 for domestic callers or 402-220-6435 for international callers. Telephone replays
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    SOURCE Quest Diagnostics Incorporated
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