Once these most recent quarterly results are finalized, they will be run through TheStreet.com Ratings' model and our ratings will be adjusted accordingly. To keep up to date on all of our ratings, visit TheStreet.com Ratings Screener. Quest Diagnostics ( DGX) reported on April 21, 2009 that its Q1 FY09 earnings increased 19.7% to $167.10 million or $0.88 per share from $139.60 million or $0.71 per share in Q1 FY08 on higher revenue. Income from continuing operations climbed 20.0% to $177.40 million or $0.89 per share, which beat the most recent consensus estimate of $0.82 per share. Total revenue grew 1.3% to $1.81 billion from $1.78 billion in Q1 FY08. Clinical testing revenue, which accounted for over 90.0% of total revenue, increased 2.2% year-over-year. Revenue per requisition increased 4.1%, driven by a positive mix, while clinical testing volume, a measure of the number of requisitions, decreased 1.9%. Drugs of abuse testing volume, which is sensitive to hiring trends, declined 25.0% and cut clinical testing volume by 1.7%. The cost of services dipped 0.5% to $1.05 billion and selling, general, and administrative costs inched down 2.5% to $424.30 million. DGX's ClariSure Postnatal Molecular test received clinical laboratory approval from New York State. The company announced an end-user license agreement (EULA) with Nanogen, a developer of molecular and rapid diagnostic products, for MGB Probe technology in human in vitro diagnostic testing. Quest Diagnostics entered into a non-exclusive licensing agreement for biomarker mGSTP1 with Epigenomics AG, a cancer molecular diagnostics company. The company raised its FY09 estimated earnings per diluted share from continuing operations to range between $3.65 and $3.75 from its previous guidance of $3.50 to $3.70. The company expects revenue to grow approximately 3.0% and operating income to be approximately 18.0% of revenue.