BURLINGTON, N.C., Jan. 4 /PRNewswire/ -- Laboratory Corporation of
America(R) Holdings (NYSE: LH) (LabCorp(R)) today announced that Bradford T.
Smith, executive vice president of public affairs, is scheduled to speak at
the JPMorgan H&Q Healthcare Conference in San Francisco on Monday, January 7
at 3:30 p.m. PST (12:30 p.m. EST). The presentation will be webcast live,
with a rebroadcast available for a period of 60 days, and may be heard online
at http://www.labcorp.com.
At the conference, Mr. Smith will reiterate Company guidance for 2001 and
2002, as filed in an 8-K on October 22. Mr. Smith will state, "For 2001, we
expect revenue growth of 13.5 percent, EBITDA margins of approximately 21
percent of sales and EPS growth of approximately 55 percent compared to 2000.
For 2002, we expect to increase overall revenues by approximately 12 percent
compared to 2001 and we expect EPS growth of approximately 33 percent compared
to 2001, before applying the new accounting rules regarding goodwill effective
January 1, 2002. After applying the new accounting rules, we expect the non-
amortization of goodwill to have an impact of approximately $26 million in
2002, resulting in an increase to EPS of approximately $0.36."
The first national 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 routine 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, North Carolina, offers state-of-the-art molecular
gene-based testing in infectious disease, oncology and genetics. Its National
Genetics Institute in Los Angeles is an industry leader in developing novel,
highly sensitive polymerase chain reaction (PCR) methods for testing hepatitis
C and other blood borne infectious agents. LabCorp's Minneapolis-based
ViroMed offers molecular microbial testing using real time PCR platforms,
while 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.
SOURCE Laboratory Corporation of America Holdings
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Related links:
http://www.labcorp.com
CONTACT:
Pamela Sherry of Laboratory Corporation of
America Holdings, +1-336-436-4855, or Shareholder Direct,
+1-800-LAB-0401
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