LabCorp earnings beat Street
Laboratory Corporation of America (NYSE: LH) beat Wall Street expectations with first-quarter earnings of $1.22 per share. That performance topped Wall Street expectations by 5 cents a share.
The international provider of medical lab services reported $130.3 million in earnings.
A year ago, first-quarter earnings were $1.14 per share.
LabCorp reported a 4.5 percent increase in revenue from the same quarter in 2008 to $1.15 billion.
"We are pleased with the strong revenue and volume growth in this challenging economic environment,” said LabCorp Chief Executive Officer David King. “They demonstrate the success of our focus on our 2009 priorities of gaining new customers, maintaining price and controlling costs.”
For the rest of 2009, LabCorp forecast revenues to increase between two and four percent with full-year earnings of between $4.75 and $4.95 per share.
Copyright 2012 by Capitol Broadcasting Company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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