Quest Diagnostics has reported revenue gains for fiscal year 2019, as well as record revenue for the fourth quarter.
For the quarter (end-December 31), net revenues were $1.926 billion, up 4.8% from $1.839 billion in the same period of 2018. Net income for the quarter was $265 million, compared with net income of $139 million in the fourth quarter of 2018.
For all of fiscal 2019, the company reported revenues of $7.726 billion, up 2.6% from $7.531 billion in 2018. Net income for the most recent year was $906 million, compared with net income of $788 million in fiscal 2018.
Quest Diagnostic's board of directors also increased the company's share repurchase authorization to $1.2 billion.