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Positive Q4 rounds off steady 2008 for LabCorp

This article was originally published in Clinica

Executive Summary

Both revenues and net income grew for LabCorp during the fourth quarter, rounding off a solid fiscal 2008 for the Burlington, North Carolina firm. Sales for the quarter increased 11% to $1.12bn on the back of increased testing volume. The revenue growth benefited the firm’s earnings, which were $118.1m, up from $114.4m the previous year. For the full year, sales also climbed 11% to $4.51bn, compared with $4.07bn recorded in 2007. However, net income was down from $476.8m in 2007 to $464.5m, due to higher cost of sales and general expenses.

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