Article: Teterboro, N.J.-Based Lab Testing Giant Doubles Profit in Fourth Quarter.

By Lewis Krauskopf, The Record, Hackensack, N.J. Knight Ridder/Tribune Business News

Jan. 29--Lab testing giant Quest Diagnostics Inc. doubled profit in the fourth quarter behind greater revenue, cost-cutting, and technological improvements, the company said Monday.

Teterboro-based Quest said net income increased to $50.9 million, or 52 cents per diluted share, in the fourth quarter of 2001, compared with $25.4 million, or 26 cents, in 2000.

The 2000 figures include an "extraordinary loss" for refinancing debt that hurt earnings by 3 cents a share.

Quest's earnings report beat the 48-cent-per-share figure estimated by analysts polled ...

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