UPDATE: Quest Diagnostics Posts Higher Q4 Profit, Issues Downbeat 2014 Forecast

Quest Diagnostics

reported a rise in its fourth-quarter profit. Quest expects 2014 earnings of $3.90 to $4.10 per share, versus analysts' estimates of $4.18 per share. Quest's quarterly profit surged to $143 million, or $0.97 per share, from a year-ago profit of $56 million, or $0.34 per share. Excluding special items, Quest's earnings from continuing operations came in at $1.03 per share. Its revenue fell 1% to $1.76 billion. However, analysts were projecting earnings of $0.93 per share on revenue of $1.74 billion. The company's board also lifted its quarterly dividend by 10% to $0.33 per share. Quest shares gained 0.99% to $54.33 in pre-market trading.