The clinical laboratory service provider Laboratory Corporation of America Holdings (hereinafter referred to LabCorp, ticker symbol “LH”) said on Friday, its fiscal 2011 fourth quarter net profit rose 3%, meanwhile its revenue and expense increased as well.
As of the fiscal quarter ended December 31, the company’s net profit increased from $132 million last year, or $1.26 per share, to $135 million, or $1.34 per share. Its revenue increased to $1.37 billion from $1.3 billion a year earlier, slightly lower than the average consensus estimate of $1.38 billion. Excluding the restructuring expenditures and other one-time items, the company’s earnings per share reached $1.56, higher than the average estimated figure of $1.51 of the analysts polled by FacSet.
In the fiscal 2011 full year, LabCorp’s net profit declined from the previous year’s $558 million, or $5.29 per share, to $520 million, or $5.11 per share; while its revenue rose 10.8% to $5.54 billion from $5 billion last year.
The company forecasted the 2012 adjusted earnings per share would be $6.75-$7.05, its revenue would increase by 2%-3.5%, to $5.65 billion to $5.74 billion. Analysts on average estimated the company’s 2012 annual earnings per share would reach $6.93 on revenue of $ 5.77 billion.