Delaware
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1-11353
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13-3757370
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(State or other jurisdiction of Incorporation)
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(Commission File Number)
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(I.R.S. Employer Identification No.)
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358 South Main Street,
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Burlington, North Carolina
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27215
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336-229-1127
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(Address of principal executive offices)
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(Zip Code)
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(Registrant’s telephone number including area code)
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[ ]
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Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[ ]
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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[ ]
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 7.01
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Regulation FD Disclosure
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By:
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/s/ F. SAMUEL EBERTS III
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F. Samuel Eberts III
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Chief Legal Officer and Secretary
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Three Months Ended Dec 31,
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Twelve Months Ended Dec 31,
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2010
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2009
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+/(-)
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2010
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2009
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+/(-)
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Revenue
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$1,295.40
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$1,165.10
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11.2%
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$5,003.90
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$4,694.70
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6.6%
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Adjusted Operating Income (1)
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$252.40
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$221.90
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13.7%
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$1,016.50
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$954.90
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6.5%
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Adjusted Operating Income Margin (1)
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19.5%
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19.0%
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50
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bp
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20.3%
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20.3%
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-
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bp
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Adjusted EPS (1)
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$1.34
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$1.16
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15.5%
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$5.55
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$4.89
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13.5%
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Operating Cash Flow
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$259.20
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$224.70
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15.4%
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$883.60
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$862.40
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2.5%
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Less: Capital Expenditures
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($32.80)
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($37.60)
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-12.8%
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($126.10)
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($114.70)
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9.9%
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Free Cash Flow
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$226.40
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$187.10
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21.0%
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$757.50
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$747.70
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1.3%
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Three Months Ended Mar 31,
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2011
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2010
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+/(-)
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Revenue
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$ 1,368.4
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$ 1,193.6
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14.6%
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Adjusted Operating Income1
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$ 263.7
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$ 243.5
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8.3%
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Adjusted Operating Income Margin1
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19.3%
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20.4%
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-110
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bp
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Adjusted EPS Excluding Amortization1
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$ 1.52
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$ 1.40
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8.6%
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Operating Cash Flow
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$ 215.3
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$ 232.0
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-7.2%
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Less: Capital Expenditures
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$ (29.4)
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$ (24.5)
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20.0%
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Free Cash Flow
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$ 185.9
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$ 207.5
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-10.4%
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(1) Non-GAAP measure
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Laboratory Corporation of America
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Other Financial Information
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FY 2009, FY 2010 and Q1 2011
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||||||||||||||||||
($ in millions)
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Q1 09
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Q2 09
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Q3 09
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Q4 09
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Q1 10
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Q2 10
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Q3 10
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Q4 10
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Q1 11
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Bad debt as a percentage of sales
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5.3%
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5.3%
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5.3%
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5.3%
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5.0%
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4.8%
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4.8%
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4.7%
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4.7%
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Days sales outstanding1
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52
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50
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48
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44
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46
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45
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44
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46
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47
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A/R coverage (Allow. for Doubtful Accts. / A/R)2
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19.5%
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20.6%
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21.9%
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23.2%
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21.7%
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20.7%
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20.4%
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18.5%
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19.4%
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(1) Excluding the impact from Genzyme Genetics, DSO was 43 days in Q4 of 2010 and 45 days in Q1 of 2011
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(2) Excluding the impact from Genzyme Genetics, A/R Coverage was 19.9% in Q4 of 2010 and 20.4% in Q1 of 2011
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