LabCorp: 4Q Earnings Snapshot

BURLINGTON, N.C. (AP) _ Laboratory Corp. of America Holdings (LH) on Thursday reported fourth-quarter net income of $157.9 million.

The Burlington, North Carolina-based company said it had net income of $1.56 per share. Earnings, adjusted for amortization costs and restructuring costs, were $2.52 per share.

The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.48 per share.

The medical laboratory operator posted revenue of $2.79 billion in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $2.78 billion.

For the year, the company reported profit of $883.7 million, or $8.61 per share. Revenue was reported as $11.33 billion.

LabCorp expects full-year earnings in the range of $11 to $11.40 per share.

LabCorp shares have risen 12 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 9 percent. The stock has dropped 16 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LH at https://www.zacks.com/ap/LH