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Quest Diagnostics boosts 2009 profit outlookOctober 20, 2009 8:47 AM ET
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MADISON, N.J. (AP) - Medical laboratory operator Quest Diagnostics Inc. on Tuesday raised its 2009 forecast after reporting a larger-than-expected profit in the third quarter. Quest said it now expects net income of $3.80 to $3.85 per share up, from $3.70 to $3.80 per share. It still expects revenue to grow about 3 percent, which implies $7.47 billion, up from $7.25 billion a year ago. According to Thomson Reuters, analysts are forecasting $3.79 per share and $7.48 billion for the year. The medical laboratory operator said its profit jumped 73 percent in the quarter as the costs of a legal settlement came off its books. In premarket trading, Quest shares rose $2.16, or 3.8 percent, to $58.87. Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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