quest diagnostics Q1_06_script

1) Quest Diagnostics had an excellent first quarter with revenues growing 18%, earnings per share growing 13%, and strong cash generation of $241 million. 2) The company is seeing benefits from investments in new and innovative tests that are enhancing its value proposition. 3) After consideration, Quest decided to discontinue operations at its struggling test kit manufacturing subsidiary NID, which will reduce ongoing losses but result in restructuring charges in the second quarter.