The rough U.S. winter apparently was very unkind to the lab services sector. Laboratory Corporation of America Holdings, a Burlington, N.C.-based provider of lab services, Monday joined another player in that space in blaming the winter weather for a quarterly drop in its business.
The company, also known as LabCorp, said its revenue fell less than 1% to $1.43 billion in the first quarter of 2014, compared to $1.44 billion in the first quarter of last year. Executives at LabCorp said they estimated that the bad winter weather reduced revenue by $42 million during the first quarter. Excluding weather, they said, the company would have reported 2% growth in the first quarter.