TETERBORO, N.J., Oct 9, 2002 /PRNewswire-FirstCall via COMTEX/ -- Quest
Diagnostics Incorporated (NYSE: DGX), the nation's leading provider of
diagnostic testing, information and services, today announced that it expects to
report stronger financial results than previously anticipated for the third
quarter ended September 30, 2002. While the company plans to report its results
on October 17, it is making this announcement in response to recent questions
concerning the competitive dynamics of the diagnostic testing industry.
Based on a preliminary analysis, third quarter revenues are expected to grow by
approximately 17% compared to the same period in 2001, reflecting favorable
trends for both testing volume and revenue per requisition. Previously, the
company had indicated that revenues for the third quarter would increase between
15% and 16%.
In addition, earnings per diluted share for the third quarter are expected to be
in a range between $0.85 and $0.87. The current consensus of analyst
expectations, as reported by Thomson/First Call, is $0.80 per diluted share.
Quest Diagnostics will report results of the third quarter on October 17, 2002,
after the close of the stock market. The company will discuss results for the
quarter during a conference call on October 18 at 8:00 A.M. Eastern Time. To
hear a simulcast of the call over the Internet, or a replay, registered analysts
may access StreetEvents at: http://www.streetevents.com and all others may
access the Quest Diagnostics website at: http://www.questdiagnostics.com . In
addition, a replay of the call will also be available from 10 A.M. on October 18
through 5 P.M. on November 14 to investors in the U.S. by dialing 800-216-3090.
Investors outside the U.S. may dial 402-220-3857. No password is required for
either number.
Quest Diagnostics Incorporated is the nation's leading provider of diagnostic
testing, information and services, providing insights that enable physicians,
hospitals, managed care organizations and other healthcare professionals to make
decisions to improve health. The company offers the broadest access to
diagnostic laboratory services through its national network of laboratories and
patient service centers. Quest Diagnostics is the leading provider of esoteric
testing, including gene-based medical testing, and empowers healthcare
organizations and clinicians with state-of-the-art connectivity solutions that
improve practice management. Additional company information can be found on the
Internet at: http://www.questdiagnostics.com .
The statements in this press release, which are not historical facts or
information may be forward-looking statements. These forward-looking statements
involve risks and uncertainties that could cause the outcome to be materially
different. Certain of these risks and uncertainties are listed in the Quest
Diagnostics Incorporated 2001 Form 10-K and subsequent filings.
SOURCE Quest Diagnostics
CONTACT:
Investors, Laure Park, +1-201-393-5030, or Media, Gary Samuels,
+1-201-393-5700, both of Quest Diagnostics Incorporated
URL: http://www.questdiagnostics.com
Copyright (C) 2002 PR Newswire. All rights reserved.