Flat Revenue at Quest Diagnostics

July 19, 2012

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Quest Diagnostics had second quarter 2012 revenue of $1.91 billion, barely higher than last year's $1.9 billion for the second quarter, reports the Associated Press. The company also changed its prediction of 2012 revenue growth from 2 percent to 2.5 percent growth to 1 percent to 2 percent growth, indicating predicted revenue of $7.59 billion to $7.66 billion.

"Quest Diagnostics delivered earnings growth and margin expansion in the quarter, despite revenues that were essentially unchanged from a year ago," says Steve Rusckowski, president and CEO of Quest, in a statement. "We are accelerating our efforts to drive productivity improvements, reduce costs and restore revenue growth. And we remain focused on increasing shareholder returns through a combination of improved operating performance and disciplined capital deployment."

The company's net income increased 9 percent for the second quarter of 2012.

The Sample's sister publication GenomeWeb Daily News has more here.

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