LabCorp(R) Scheduled to Present at Goldman, Sachs & Co. Healthcare Conference
At the conference, Mr. Smith will reiterate Company guidance for 2001 and 2002, as filed in an 8K on April 23, 2001. Mr. Smith will state, "For 2001, we expect revenue growth of 11 percent, with a bad debt rate of 9.7 percent of sales, EBITDA margins of approximately 21 percent of sales, and EPS growth of approximately 50 percent. For 2002, we expect to increase overall revenues in approximately the same range as for 2001, and we expect EPS growth of approximately 30 percent compared to 2001."
The first clinical laboratory to fully embrace genomic testing, Laboratory Corporation of America(R) Holdings (LabCorp(R)) has been a pioneer in commercializing new diagnostic technologies. As a national laboratory with annual revenues of $1.9 billion in 2000 and over 18,000 employees, the company offers more than 4,000 clinical tests ranging from simple blood analyses to sophisticated molecular diagnostics. Serving over 200,000 clients nationwide, LabCorp leverages its expertise in innovative clinical testing technology with its Centers of Excellence. The Center for Molecular Biology and Pathology, in Research Triangle Park (RTP), North Carolina, develops applications for polymerase chain reaction (PCR) technology. LabCorp's National Genetics Institute in Los Angeles is an industry leader in developing novel, highly sensitive PCR methods for testing hepatitis C and other infectious agents, and its Center for Esoteric Testing in Burlington, North Carolina, performs the largest volume of specialty testing in the network. LabCorp's clients include physicians, state and federal government, managed care organizations, hospitals, clinics, pharmaceutical and Fortune 1000 companies, and other clinical laboratories.
Each of the above forward-looking statements is subject to change based on various important factors, including without limitation, competitive actions in the marketplace and adverse actions of governmental and other third-party payors. Further information on potential factors that could affect LabCorp's financial results is included in the Company's Form 10-K for the year ended December 31, 2000 and subsequent SEC filings.
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SOURCE Laboratory Corporation of America Holdings
CONTACT: Pamela Sherry of Laboratory Corporation of America Holdings,
336-436-4855, or Shareholder Direct, 800-LAB-0401