Laboratory Corporation of America Holdings(LH: Quote) reported that its first-quarter net earnings attributable to the company was $161.6 million or $1.63 per share, up from $127.1 million or $1.23 per share in the same quarter last year.
Adjusted earnings, excluding Amortization, were $1.74 per share, up from $1.52 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.67 per share. Analysts' estimates typically exclude special items.
Net sales for the quarter rose to $1.42 billion from $1.37 billion in the prior year quarter. Nineteen analysts had consensus revenue estimate of $1.40 billion for the quarter.
The company reaffirmed its 2012 guidance, expecting revenue growth of approximately 2.0% - 3.5%; Adjusted earnings per share Excluding Amortization in the range of $6.75 to $7.05, excluding the impact of any share repurchase activity after March 31, 2012. Analysts expect the company to report earnings of $6.97 per share on revenues of $5.72 billion for fiscal 2012.
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by RTT Staff Writer
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