Laboratory Of America Holdings' CEO Discusses Q1 2012 Results - Earnings Call Transcript
Second, revenue growth. Revenue increased 4% year-over-year in the first quarter. During the quarter, revenue per requisition increased 1.2% year-over-year. Total company volume increased 2.8% year-over-year during the first quarter.
Esoteric volume increased 4.8% in the quarter. The quarter benefited from an easier weather comp, which increased the revenue and volume growth rate by 1.5%. Although there was an extra calendar day in the quarter, the strength of days in the quarter was approximately the same as last year.
Third, margin. For the first quarter, our adjusted operating income margin was 19.9% compared to 19.3% in the first quarter of 2011. We are very pleased with the margin improvement, which reflects the positive impact from our integration activities. Fourth, liquidity. We remain well-capitalized. At the end of March, we had cash of $129.9 million and $500 million available under our revolving line of credit.
During the first quarter, we repurchased $122.3 million of stock representing 1.4 million shares. At the end of March, $462.1 million of repurchase authorization remained under our share repurchase program. This morning, we also reiterated our 2012 financial guidance. We expect revenue growth of 2% to 3.5%, adjusted EPS excluding amortization in the range of $6.75 to $7.05, excluding the impact of any share repurchase activity after March 31, 2012, operating cash flow of approximately $950 million and capital expenditures of approximately $155 million.
I'll now turn the call over to Dave.David P. KingThank you, Brad. We are very pleased with our first quarter 2012 results. We generated strong revenue growth. We delivered solid increases in core and esoteric volume. Revenue per requisition increased 1.2%. We lowered our bad debt rate to 4.4% during the quarter, reflecting the continued exceptional performance of our operational and billing personnel. Read the rest of this transcript for free on seekingalpha.comSelect the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
