DGX FY 2006 Earnings Report — Quest Diagnostics Incorporated Revenue & Financial Results | Market Cap Arena

Quest Diagnostics IncorporatedDGX

FY 2006 Earnings

Reported March 1, 2007

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2006	Prior Q	FY 2005	QoQ Change	YoY Change
Revenue	$6.3B	—	—	—	—
Op. Income	$1.1B	—	—	—	—
Gross Margin	41.0%	—	—	—	—
Net Margin	9.4%	—	—	—	—
EPS (Diluted)	$2.94	—	—	—	—
Free Cash Flow	$758M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$6.3B
Cost of Revenue	$3.7B
GROSS PROFIT	$2.6B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.4B
SG&A Expenses	$1.4B
Other Expenses	$11M
Operating Expenses	$1.4B
Cost & Expenses	$5.1B
OPERATING INCOME	$1.1B
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$95M
INCOME BEFORE TAX	$1.0B
Income Tax Expense	$408M
Net Income from Continuing Ops	$650M
Net Income from Discontinued Ops	$0
Other Adjustments	-$39M
NET INCOME	$586M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$586M
D&A	$197M
EBIT	$1.1B
EBITDA	$1.3B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$6.3B
Cost of Revenue	$3.7B
GROSS PROFIT	$2.6B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.4B
SG&A Expenses	$1.4B
Other Expenses	$11M
Operating Expenses	$1.4B
Cost & Expenses	$5.1B
OPERATING INCOME	$1.1B
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$95M
INCOME BEFORE TAX	$1.0B
Income Tax Expense	$408M
Net Income from Continuing Ops	$650M
Net Income from Discontinued Ops	$0
Other Adjustments	-$39M
NET INCOME	$586M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$586M
D&A	$197M
EBIT	$1.1B
EBITDA	$1.3B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$586M
Depreciation & Amortization	$197M
Stock-Based Compensation	$0
Deferred Income Tax	-$46M
Other Non-Cash Items	$322M
Change in Working Capital	-$152M
OPERATING CASH FLOW	$952M
Capital Expenditure	-$193M
Acquisitions (Net)	-$237M
Purchases of Investments	$1.3B
Sales/Maturities of Investments	$16M
Other Investing Activities	-$1.3B
NET CASH FROM INVESTING	-$414M
Net Debt Issuance	-$41M
Common Stock Repurchased	-$472M
Common Dividends Paid	-$77M
Other Financing Activities	$8M
NET CASH FROM FINANCING	-$480M
FREE CASH FLOW	$758M
Net Change in Cash	$58M

Balance Sheet

Item	Amount
Cash & Equivalents	$150M
Short-Term Investments	$0
Net Receivables	$774M
Inventory	$79M
Other Current Assets	$121M
TOTAL CURRENT ASSETS	$1.2B
PP&E (Net)	$752M
Goodwill	$3.4B
Intangible Assets	$193M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$134M
TOTAL NON-CURRENT ASSETS	$4.5B
TOTAL ASSETS	$5.7B
Account Payables	$216M
Short-Term Debt	$317M
Deferred Revenue	$0
Other Current Liabilities	$297M
TOTAL CURRENT LIABILITIES	$1.2B
Long-Term Debt	$1.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$21M
Other Non-Current Liabilities	$231M
TOTAL NON-CURRENT LIABILITIES	$1.5B
TOTAL LIABILITIES	$2.6B
Common Stock	$2M
Additional Paid-In Capital	$2.2B
Retained Earnings	$1.8B
Treasury Stock	-$968M
Accum. Other Comp. Income	-$65.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.0B
Minority Interest	$0
TOTAL EQUITY	$3.0B
TOTAL LIABILITIES & EQUITY	$5.7B
Total Debt	$1.6B
Net Debt	$1.4B