LabCorp says fourth-quarter profit drops, blames bad weather

Fri Feb 8, 2013 7:06am EST

Feb 8 (Reuters) - Laboratory Corp of America Holdings reported a drop in fourth-quarter profits on Friday and said bad weather had been partly to blame, cutting profit by 9 cents per share.

The company reported net income of $120.2 million, or $1.26 per share, down from $135.4 million, or $1.34 a share a year earlier.

Earnings excluding amortization, restructuring costs and other charges came to $1.54 a share. The result would have been 9 cents higher if not for the bad weather. In the fall, Superstorm Sandy shut transportation systems and destroyed thousands of homes in the Northeast.