Quest Diagnostics Beats by 2 Cents

Quest Diagnostics (DGX) posted a second-quarter profit drop but guided in line for the rest of 2006.

The Lyndhurst, N.J., medical testing company made $132 million, or 66 cents a share, for the quarter ended June 30, down from the year-ago $149 million, or 72 cents a share. Latest-quarter earnings included 12 cents a share in losses tied to the NID test kit unit whose operations are being discontinued. Excluding those losses, latest-quarter earnings were 78 cents a share, 2 cents ahead of the Thomson Financial analyst consensus estimate.

Revenue rose 15% from a year ago to $1.58 billion, matching the Wall Street estimate. The company said the acquisition of LabOne boosted revenue by 10%.

Quest guided to 2006 earnings of around $3 a share on 15% revenue growth, matching the Thomson Financial targets.

More from Stocks

Dow Futures Tank as Trade War Fears Grip Wall Street

Dow Futures Tank as Trade War Fears Grip Wall Street

Why GE's Stock Has Fallen 9% in the Last 30 Days

Why GE's Stock Has Fallen 9% in the Last 30 Days

5 Stock Picks Under $10 for Millennials

5 Stock Picks Under $10 for Millennials

3 Complicated Investing Strategies Millennials Love

3 Complicated Investing Strategies Millennials Love

Tyson Foods CEO: We Aren't Done Making Deals

Tyson Foods CEO: We Aren't Done Making Deals