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Quest Diagnostics Q1 Net Falls, Revenue Guidance Trimmed

By Eric Volkman - Apr 17, 2013 at 7:46PM

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The company now forecasts flat top-line growth for 2013.

Quest Diagnostics' (DGX 0.62%) first-quarter results have been released. For the quarter, net revenues were just under $1.79 billion, a drop from the $1.91 billion in the same period the previous year. Attributable net profit also declined, to $136 million ($0.85 per diluted share) from Q1 2012's result of $159 million ($0.99).

The most recent quarter's numbers fell short of average analyst estimates, which were for $1.86 billion in top line and EPS of $1.03.

Quest Diagnostics also updated its forward guidance for fiscal 2013. The company now believes its revenues will roughly equal those of 2012, a slight downward adjustment to its previous growth anticipation of 0%-1% year over year. The firm maintained its EPS forecast of $4.35-$4.55 for the year.

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