Unilab Reports Profit Turnaround for Quarter

Unilab Corp., the Tarzana-based supplier of laboratory testing services, reported net income of $2.09 million in the third quarter ending Sept. 30, compared to a year-earlier loss of $476,000.

Sales in the latest quarter totaled $38.3 million, up 20% from $31.8 million in the third quarter of 1993. For the first nine months of the year, Unilab posted earnings of $4.2 million on sales of $113 million, compared to a year-earlier profit of $2.4 million on revenue of $98.4 million.

For comparison purposes, Unilab reported its 1993 results as though the company’s Nov. 10, 1993, restructuring had occurred on Jan. 1 of that year.

Andrew Baker, chief executive of Unilab, attributed the improved results to growth in the company’s San Jose and Sacramento markets. He also said the company has boosted sales in Southern California’s burgeoning managed health care marketplace.