This morning, Laboratory Corporation of America Holdings (LH) reported strong third quarter financials. The company’s earnings per share of $1.22 surpassed the Zacks Consensus Estimate of $1.15 as well as the $1.10 reported in the year-ago period. Revenues recorded a 4.4% year-over-year increase to $1.2 billion, driven by a 0.7% increase in testing volume (measured by accessions) and a 3.7% increase in revenue per accession. Lab Corp’s gross margin reported an improvement of 137 basis points during the reported quarter. While revenues increased 4.4%, cost of goods sold grew by 2%. The company recorded an improvement in operating margin (excluding restructuring and other special charges) by 60 basis points to 20% compared to 19.4% in the year-ago period. At the end of the September quarter, Lab Corp had $126.8 million of cash and short-term investments, down from $219.7 million at the end of December 2008. Free ...

Laboratory Corp. of America Holdings (LH)

Laboratory Corporation of America® Holdings, a S&P 500 company, is a pioneer in commercializing new diagnostic technologies and the first in its industry to embrace genomic testing. With annual revenues of $4.5 billion in 2008, over 28,000 employees worldwide, and more than 220,000 clients, LabCorp offers clinical assays ranging from routine blood analyses to HIV and genomic testing. Laboratory Corporation of America Holdings was founded in 1971 and is headquartered in Burlington, North Carolina.

Web site at: www.labcorp.com

Recent News:

Laboratory Corporation of America® Holdings (NYSE:LH) today announced the successful completion of its acquisition of Monogram Biosciences, Inc. LabCorp acquired Monogram pursuant to a cash tender offer followed by the merger of a wholly-owned subsidiary of LabCorp with and into Monogram.

 

Senior Housing Properties Trust (SNH)

Senior Housing Properties Trust, a real estate investment trust (REIT), primarily invests in senior housing properties in the United States.

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