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Quest Diagnostics 4th-quarter profit falls
January 23, 2013 / 12:15 PM / 5 years ago

Quest Diagnostics 4th-quarter profit falls

Jan 23 (Reuters) - Laboratory tests provider Quest Diagnostics Inc’s quarterly profit fell as fewer people took tests during Superstorm Sandy in late October.

Net income fell to $140 million, or 87 cents per share, in the fourth quarter, from $184 million, or $1.16 per share, a year earlier.

Revenue from continuing operations fell 4 percent to $1.8 billion.

The No. 1 U.S. laboratory testing company cut its 2012 earnings forecast last week due to damage from superstorm Sandy and charges related to the sale of two businesses, HemoCue and OralDNA.

The company, last week, said it will restate its 2011 and 2012 results to remove the impact of HemoCue and OralDNA businesses from continuing operations.

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