Winter weather impacts LabCorp's 1st quarter |
Written by David Horn
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Thursday, 21 April 2011 11:25 |
(BURLINGTON) -- LabCorp reported first quarter net earnings of $127.1 million. This compared to $132.7 million in the first quarter of 2010.
The company said inclement weather had a significant impact on first quarter results. The Burlington-based company's operating income for the first quarter was $235.8 million. This compared to $234.2 million during the same period last year.
“We delivered strong revenue, earnings and free cash flow, despite severe weather throughout the country," said David P. King, Chairman and Chief Executive Officer. "The core business performed extremely well and we are especially pleased with the performance of Genzyme Genetics; both of these will be important components of our future growth.”
LabCorp acquired Genzyme Genetics in the fourth quarter of 2010.
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