Laboratory Corporation Of America Holdings Q1 Profit Decreases, but beats estimates

(RTTNews) - Laboratory Corporation Of America Holdings (LH) reported a profit for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $491.6 million, or $5.23 per share. This compares with $769.6 million, or $7.82 per share, in last year's first quarter.

Excluding items, Laboratory Corporation Of America Holdings reported adjusted earnings of $573.7 million or $6.11 per share for the period.

Analysts on average had expected the company to earn $5.98 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.2% to $3.90 billion from $4.16 billion last year.

Laboratory Corporation Of America Holdings earnings at a glance (GAAP) :

-Earnings (Q1): $491.6 Mln. vs. $769.6 Mln. last year. -EPS (Q1): $5.23 vs. $7.82 last year. -Analyst Estimates: $5.98 -Revenue (Q1): $3.90 Bln vs. $4.16 Bln last year.

-Guidance: Full year EPS guidance: Adj; $18.25 to $21.0