Reaffirms Previous Guidance for 2007
MADISON, N.J., Jan. 17 /PRNewswire-FirstCall/ -- Quest Diagnostics
Incorporated (NYSE: DGX), the nation's leading provider of diagnostic testing,
information and services, announced that it will report results for the fourth
quarter and year ended December 31, 2007 and provide financial guidance for
2008 on February 21, 2008, instead of the previously scheduled date of January
29.
The company is rescheduling its report of fourth quarter and full-year
2007 results in order to provide time to attempt to make further progress in
its ongoing effort to settle with the government claims associated with the
government's investigation in connection with NID, a test kit manufacturing
subsidiary the company closed in 2006. While the company is working
diligently to reach such a settlement prior to its report of earnings for the
fourth quarter and year ended December 31, 2007, there can be no assurance as
to when or whether a settlement may be reached, or as to its terms.
Additional information regarding this matter is available in the company's
September 30, 2007 Quarterly Report on Form 10-Q, including Footnote 7 to the
Financial Statements.
The company reaffirms its 2007 guidance for revenues of between $6.6
billion and $6.7 billion, and earnings per diluted share from continuing
operations of between $2.84 and $2.91, before $0.04 per share in special
charges recorded in the first quarter of 2007.
Quest Diagnostics will hold its fourth quarter conference call on February
21, 2008 at 8:30 A.M. Eastern Time. A simulcast of the call is available by
dialing 210-839-8500 -- PASSCODE: 3214469 and via the Internet at:
www.questdiagnostics.com. Registered analysts may access the call at:
www.streetevents.com. In addition, a replay of the call will be available from
10:30 A.M. on February 21 through 11 P.M. on March 20, 2008 to investors in
the U.S. by dialing 866-393-1025. Investors outside the U.S. may dial 203-369-
0451. No password is required for either number.
About Quest Diagnostics
Quest Diagnostics is the leading provider of diagnostic testing,
information and services that patients and doctors need to make better
healthcare decisions. The company offers the broadest access to diagnostic
testing services through its national network of laboratories and patient
service centers, and provides interpretive consultation through its extensive
medical and scientific staff. Quest Diagnostics is a pioneer in developing
innovative new diagnostic tests and advanced healthcare information technology
solutions that help improve patient care. Additional company information is
available at www.questdiagnostics.com.
The statements in this press release which are not historical facts may be
forward-looking statements. Readers are cautioned not to place undue reliance
on forward-looking statements, which speak only as of the date that they are
made and which reflect management's current estimates, projections,
expectations or beliefs and which involve risks and uncertainties that could
cause actual results and outcomes to be materially different. Risks and
uncertainties that may affect the future results of the Company include, but
are not limited to, the competitive environment, changes in government
regulations, changing relationships with customers, payers, suppliers and
strategic partners and other factors discussed in "Business" in Part I, Item
1, "Risk Factors" and "Cautionary Statement for Purposes of the 'Safe Harbor'
Provisions of the Private Securities Litigation Reform Act of 1995" in Item
I, Part 1A, "Legal Proceedings" in Part I, Item 3, "Management's Discussion
and Analysis of Financial Condition and Results of Operations" in Part II,
Item 7 and "Quantitative and Qualitative Disclosures About Market Risk" in
Part II, Item 7A in the Quest Diagnostics 2006 Annual Report on Form 10-K and
"Management's Discussion and Analysis of Financial Condition and Results of
Operations" and "Quantitative and Qualitative Disclosures About Market Risk"
in the Company's 2007 Quarterly Reports on Form 10-Q and other items
throughout the Form 10-K and the Company's 2007 Quarterly Reports on Form 10-Q
and Current Reports on Form 8-K.
SOURCE Quest Diagnostics Incorporated
www.questdiagnostics.com