quest diagnostics Q308_Transcript

Quest Diagnostics held a conference call to discuss financial results for the third quarter of 2008. Key points included: - Revenues grew 3.4% to $1.8 billion, adjusted earnings per share increased 12%, and cash flow improved to $329 million. - Guidance for full year 2008 was raised for adjusted earnings per share to between $3.17-$3.22. - The company reached an agreement in principle with the federal government regarding an investigation, increasing related reserves by $73 million. - Growth was driven by increases in esoteric, gene-based, and routine testing. Progress was also made on cost reduction initiatives.