BURLINGTON, N.C. (AP) — Clinical lab services company Laboratory Corp. of America Holdings reported Friday that its fourth quarter earnings edged up 3 percent as revenue and expenses both rose.
The adjusted earnings topped Wall Street estimates, but the revenue figure was slightly below Wall Street expectations and its forecast for 2012 revenue was short of estimates.
Its shares dropped $3.98, or 4.3 percent, to $88.13 in morning trading.
The Burlington, N.C., company known as LabCorp said Friday its net income rose to $135.4 million, or $1.34 per share, in the three months that ended Dec. 31, up from $131.8 million, or $1.26 per share, a year ago.
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