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FEB 22, 2013 - Forbes

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Medicare Cuts, Flat Pricing Dampen Quest's Outlook

Quest Diagnostics, (DGX) a leading provider of medical diagnostic testing services, reported a lackluster fourth quarter 2012 on January 23 with adjusted EPS of $1.01, down 15.8% year-over-year, missing the Zacks Consensus Estimate by $0.05. Fourth quarter results for Quest (Analyst Report) were of particular concern when seen from the top line. Year-over-year sales declined 4% primarily due to 4.4% drop in diagnostic information services revenues that accounts for over 90% of total revenues of the company. Adjusted operating margin in the quarter contracted 232 basis points (bps) to 15.98%. ... Read More

Tags: Medicare Cuts, Flat Pricing Dampen Quest's Outlook,  Forbes Latest News