LabCorp(R) Scheduled to Present At U.S. Bancorp Piper Jaffray Healthcare Conference
Fourth Quarter 2001 Results Scheduled for Release February 13th
Laboratory Corporation of America(R) Holdings (NYSE: LH) (LabCorp(R)) today announced that Thomas P. Mac Mahon, chairman and chief executive officer, is scheduled to speak at the US Bancorp Piper Jaffray Healthcare Conference in New York City on Tuesday, January 29 at 8:30 a.m. Eastern Time. The presentation will be webcast live, with a rebroadcast available for a period of 30 days, and may be heard online at www.labcorp.com.At the conference, Mr. Mac Mahon will reiterate Company guidance for 2001 and 2002, as filed in an 8-K on October 22, 2001. Mr. Mac Mahon 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."
LabCorp also announced that its fourth quarter and full year 2001 results are scheduled for release after the close of the stock market on February 13, 2002. A live broadcast of LabCorp's fourth quarter and full year results conference call on February 14, 2002 will be available online at www.labcorp.com or at www.streetevents.com beginning at 9:00 a.m. Eastern Time, with an online rebroadcast continuing through April 15, 2002. The live call at 9:00 a.m. is also available in a listen-only mode by dialing 212-346-6380. A telephone replay of the call will be available through February 21, 2002 and can be heard by dialing 800-633-8284 (858-812-6440 for international callers). The access code for the replay is 202-73-030.
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.
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SOURCE Laboratory Corporation of America Holdings
CONTACT: Pamela Sherry of Laboratory Corporation of America Holdings,
+1-336-436-4855, or Shareholder Direct, +1-800-LAB-0401
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URL: http://www.labcorp.com
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