Bio-Reference Laboratories (NASDAQ:BRLI) investors had a great day today, with the stock up 22% after announcing first-quarter earnings. Bio-Reference beat estimates on both the top and bottom lines, although earnings per share still declined year-over-year. Is the company poised to keep succeeding, particularly given the current environment of health care austerity?

In the video below, health care analyst Michael Douglass identifies three key takeaways from the company's earnings report and what investors should be watching for going forward.

Michael Douglass has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.