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News Breaks | | | | January 16, 2013 | | 07:05 EDT |  | DGX | Quest Diagnostics plans to sell HemoCue diagnostic products business
Quest Diagnostics announced that it plans to sell its HemoCue diagnostic products business, as part of the company's strategy to refocus on diagnostic information services. HemoCue develops, produces and markets point-of-care testing systems. As a result, Quest Diagnostics will report 2012 and 2011 results for HemoCue and its OralDNA products business, which was sold in December, 2012, as discontinued operations in its report of fourth quarter 2012 results, and take related after-tax charges in discontinued operations for the estimated asset impairment associated with HemoCue and the loss on sale associated with OralDNA, totaling $89.5M, or 56c per diluted share, in the period. The company's consolidated income statements for FY12 and 2011 will present the operating results of HemoCue and OralDNA as discontinued operations. As such, results from continuing operations will be reduced as follows: Revenues by $117M in 2012 and $119M in 2011; Operating income by $11M in 2012 and $8M in 2011; Net income from continuing operations by $15M in 2012 and $13M in 2011; and EPS by 9c in 2012 and 8c in 2011. | |
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News For DGX From The Last 14 Days Check below for free stories on DGX the last two weeks. |
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| May 16, 2013 | | 10:10 EDT | | DGX | Quest Diagnostics Humana acquires Concentra's laboratory business
 Subscribe for More Information | | | May 15, 2013 | | 17:30 EDT | | DGX | Relational Investors gives quarterly update on stakes
Subscribe for More Information | | | May 10, 2013 | | 14:43 EDT |  | DGX | Proposed reimbursement rates positive for LabCorp, Quest, says Piper Jaffray
Subscribe for More Information | | | May 9, 2013 | | 19:21 EDT |  | DGX | Better days ahead for Quest Diagnostics, Barron's says
Quest Diagnostics, which is up 3.5% over the last 12 months, making it one of the worst performing health care stocks in the S&P 500, is also one of the cheapest names in that index at 12 times 2014 earnings, and better days are ahead for the stock, says Barron's Weekday Trader. Reference Link | |
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