Slight Growth for LabCorp

July 20, 2012

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Laboratory Corporation of America has reported second quarter 2012 revenue of $1.42 billion, a 1.4 percent increase as compared to second quarter 2011's $1.4 billion. LabCorp also updated its expected revenue growth for 2012 to about 2 percent to 3 percent. "We delivered a solid quarter given that we continue to face a low-volume-growth environment," says David King, the chairman and CEO of LabCorp, in a statement. "We continued to build for the future as we received clearance to proceed with our acquisition of MedTox Scientific, which will broaden our expertise in esoteric toxicology testing. At the same time we achieved earnings growth through disciplined expense management, particularly in selling, general and administrative expenses." Net earnings for the quarter were $153.3 million, the company says.

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

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