Quest Diagnostics (DGX) FY2010 results: revenue $7.3 billion, down 2.6% on the year
Quest Diagnostics Inc. (DGX) reported revenue of $7.3 billion for fiscal 2010, the year ended 31 December 2010, down 2.6% on the year before. Net income was $721 million, down 1.1%, and diluted earnings per share $4.05. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2011.
Revenue
$7.3 billion
-2.6% on the year
FY2007FY2010
Operating margin
17.7%
18.2% a year earlier
FY2007FY2010
Net income
$721 million
-1.1% on the year
FY2007FY2010
Diluted EPS
$4.05
+4.7% on the year
FY2007FY2010
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Revenue
7,260
7,455
7,249
-2.6%
Cost of revenue
4,276
4,321
4,256
-1.1%
Gross profit
2,985
3,134
2,993
-4.8%
Gross margin
41.1%
42.0%
41.3%
Selling, general and administrative
1,659
1,748
1,737
-5.1%
Operating income
1,284
1,359
1,222
-5.6%
Operating margin
17.7%
18.2%
16.9%
Interest expense
148
147
-185
+0.6%
Pre-tax income
1,184
1,228
1,051
-3.6%
Income tax
430
460
387
-6.6%
Effective tax rate
36.3%
37.5%
36.8%
Net income
721
729
581
-1.1%
Net margin
9.9%
9.8%
8.0%
Diluted EPS
$4.05
$3.87
$2.96
+4.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Operating cash flow
1,118
997
1,063
+12.1%
Capital expenditure
205
167
213
+23.0%
Free cash flow
913
830
850
+9.9%
Free cash flow margin
12.6%
11.1%
11.7%
Cash from investing
-217
-196
-199
Cash from financing
-986
-521
-778
Depreciation and amortisation
254
257
265
-1.1%
Share-based compensation
53.9
75.1
70.6
-28.2%
Buybacks
750
500
254
+50.0%
Dividends paid
71.3
74.7
78.0
-4.6%
Dividend per share
$0.40
$0.40
$0.40
0.0%
Diluted shares, weighted
177m
188m
196m
-5.6%
Balance sheet
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Shareholders' equity
4,033
3,990
3,605
+1.1%
Non-controlling interest
20.6
21.8
20.2
-5.4%
Debt
2,990
2,937
3,078
+1.8%
Other liabilities
1,483
1,615
1,701
-8.2%
Total liabilities and equity
8,528
8,564
8,404
-0.4%
Fixed assets
834
826
880
+1.0%
Goodwill
5,102
5,084
5,055
+0.4%
Intangible assets
796
824
827
-3.3%
Cash and equivalents
449
534
254
-15.9%
Receivables
845
827
833
+2.2%
Inventory
76.6
91.4
102
-16.2%
Other assets
424
377
453
+12.4%
Total assets
8,528
8,564
8,404
-0.4%
10-K for the year ended 31 December 2010, filed 16 February 2011: the filing.