This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Laboratory Corporation Of America® Holdings Announces 2012 Fourth Quarter And Full Year Results

Operating income was $1,023.5 million in 2012. Adjusted Operating Income was $1,064.9 million.

Revenues were $5,671.4 million, an increase of 2.3% compared to the same period in 2011. Compared to 2011, testing volume, measured by requisitions, increased 1.7% and revenue per requisition increased 0.6%.

Operating cash flow for 2012 was $841.4 million. During 2012, the Company repurchased $516.4 million of stock, representing 5.9 million shares.

“We had a good year, despite operating through a challenging environment, and achieved meaningful progress on our 5-pillar strategy,” said David P. King, Chairman and Chief Executive Officer. “We achieved solid earnings growth, strengthened our balance sheet by refinancing $1 billion of debt at historically low rates and continued to return capital to shareholders through our disciplined share repurchase program.”

Outlook for 2013

The Company expects revenue growth in the range of approximately 2.0% to 3.0%; Adjusted EPS Excluding Amortization of $6.85 to $7.15, which includes a negative impact of approximately $0.35 due to Medicare payment reductions and which excludes the impact of any share repurchase activity after December 31, 2012; operating cash flow of approximately $870 million to $900 million; and capital expenditures of approximately $200 million to $220 million. The Company’s capital expenditure guidance is higher than historical levels due to near-term investments in facility consolidation and replacement of a major testing platform.

Use of Adjusted Measures

The Company has provided in this press release “adjusted” financial information that has not been prepared in accordance with GAAP, including Adjusted EPS, Adjusted EPS Excluding Amortization, Adjusted Operating Income, and Free Cash Flow. The Company believes these adjusted measures are useful to investors as a supplement to, but not as a substitute for, GAAP measures, in evaluating the Company’s operational performance. The Company further believes that the use of these non-GAAP financial measures provides an additional tool for investors in evaluating operating results and trends, and in comparing the Company’s financial results with other companies. Reconciliations of these non-GAAP measures to the most comparable GAAP measures are included in the tables accompanying this press release.

2 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,639.59 +43.24 0.25%
S&P 500 2,063.50 +5.86 0.28%
NASDAQ 4,976.4640 +17.9960 0.36%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs