Quest Diagnostics raises low end of profit outlook

Quest now expects to earn between $3.10 per share and $3.20 per share for the full year, up from a range of $3 to $3.20. The company maintained its annual revenue forecast, which calls for 9 percent growth. Based on the company's unaudited 2007 results, that implies $7.31 billion in sales.

On average, analysts polled by Thomson Financial expect the company to post a profit of $3.13 per share on $7.3 billion in revenue.

Quest reported a profit of 83 cents per share in the second quarter, which surpassed an average of analyst forecasts by 5 cents. The company earned 71 cents per share in the first quarter, while analysts expected 70 cents per share.

Quest shares added 5 cents in premarket trading Tuesday to $51.40.