Quest Diagnostics Whiffs Again

People going to the Docs less to save on the co-pay?  Ultimately could this be a buy when/if Obamacare is implemented??  For now, this is a scary milepost for the economy, but could be an opp at some point.

(Reuters) - Quest Diagnostics Inc (DGX.N) posted a surprising decline in second-quarter revenue on Wednesday, prompting the No. 1 lab-testing company to cut its full-year profit forecast and sending shares down 7 percent in premarket trading.

While second-quarter profit slightly topped estimates, a further slowdown in physician office visits contributed to the revenue decline of 1.4 percent to $1.87 billion, Quest said. Analysts looked for nearly $1.93 billion, according to Thomson Reuters I/B/E/S.

"Revenue softness through the first half has made us more cautious about our full-year outlook, and we have reduced 2010 guidance accordingly," Quest Chief Executive Officer Surya Mohapatra said in a press release.

Quest projects full-year earnings from continuing operations in a range of $3.90 to $4.00 per share, down from its prior range of $4 to $4.20 per share. Analysts had been expecting $4.18.

The company cut its 2010 revenue forecast for the second consecutive quarter. It expects revenue to fall by about 1 percent. Previously it projected a revenue increase of between 1 percent to 2 percent, which had been reduced last April.