First, cash flow. Our cash flow remains strong. Excluding the Hunter Lab settlement of $49.5 million, free cash flow for the year ended December 31, 2011, was $759.4 million. Cash flow has been negatively impacted by approximately $17 million, due to delays in the Genzyme Genetics enrollment process, which we expected and have previously discussed. The impact from these delays has improved by $11 million since the third quarter of 2011, and we expect to continue to make progress in resolving these issues. We remain pleased with our cash collections. DSO was 46 days at the end of December, unchanged year-over-year and sequentially. Our bad debt remained 4.5%.Second, revenue growth. Revenue increased 5.5% year-over-year in the fourth quarter. Genzyme Genetics accounted for approximately 4.8% of this growth. During the quarter, revenue per requisition increased 4.2% year-over-year. Genzyme Genetics accounted for approximately 4.1% of the growth in revenue per requisition. Total company volume increased 1.2% year-over-year during the fourth quarter. Genzyme Genetics accounted for approximately 0.6% of this volume growth. Esoteric volume increased approximately 3.5% in the quarter.
Laboratory Of America Holdings' CEO Discusses Q4 2011 Results - Earnings Call Transcript
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