Positive Q4 rounds off steady 2008 for LabCorp
This article was originally published in Clinica
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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