Laboratory Corp. of America Holdings (LH) reported that its first-quarter net earnings attributable to the company declined to $147.2 million or $1.56 per share, from $161.6 million or $1.63 per share in the same quarter last year. The company recorded restructuring and other special charges of $7.5 million during the first quarter of 2013.
Adjusted earnings per share, Excluding Amortization, were $1.74,unchanged from last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.77 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter grew to $1.44 billion from $1.42 billion in the prior year quarter. Twenty one analysts had consensus revenue estimate of $1.45 billion for the quarter.
The company reaffirmed its fiscal 2013 adjusted earnings per share excluding amortization guidance in a range of $6.85 to $7.15, which includes a negative impact of approximately $0.35 due to Medicare payment reductions and excludes the impact of any share repurchase activity after March 31, 2013. The company still expects 2013 revenue growth to be in the range of approximately 2.0% to 3.0%. Analysts expect the company to report earnings of $7.11 per share on revenues of $5.79 billion for fiscal 2013.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.