Quest Diagnostics 2003 Annual Report Download - page 105

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QUEST DIAGNOSTICS INCORPORATED AND SUBSIDIARIES
(in thousands, except per share data)
Quarterly Operating Results (unaudited)
First Second Third Fourth
Quarter Quarter Quarter Quarter Total Year
2003(a)
Net revenues ............................... $1,092,797 $1,219,935 $1,221,221 $1,204,005 $4,737,958
Gross profit ................................ 444,700 516,811 510,041 497,783 1,969,335
Net income ................................ 88,036 120,412 120,024 108,245 436,717
Basic earnings per common share:
Net income ................................ 0.88 1.15 1.15 1.04 4.22
Diluted earnings per common share:
Net income ................................ 0.86 1.12 1.12 1.02 4.12
First Second Third Fourth
Quarter Quarter Quarter Quarter Total Year
2002(b)
Net revenues ............................... $ 946,762 $1,068,810 $1,058,714 $1,033,765 $4,108,051
Gross profit ................................ 389,024 438,552 433,639 414,448 1,675,663
Net income ................................ 66,689 87,151 86,617 81,697 322,154
Basic earnings per common share:
Net income ................................ 0.70 0.90 0.89 0.84 3.34
Diluted earnings per common share:
Net income ................................ 0.67 0.87 0.87 0.82 3.23
(a) On February 28, 2003, Quest Diagnostics completed the acquisition of Unilab. The quarterly operating
results include the results of operations of Unilab subsequent to the closing of the acquisition (see Note 3).
(b) On April 1, 2002, Quest Diagnostics completed its acquisition of AML. The quarterly operating results
include the results of operations of AML subsequent to the closing of the acquisition (see Note 3).
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