SPECIALTY'S Q3 REVENUE CLIMBS.Byline: Daily News VALENCIA Valencia, region, Spain Valencia (välān`thēä), autonomous region (1990 pop. 3,902,429) and former kingdom, E Spain, on the Mediterranean. It now comprises the provinces of Alicante, Castellón, and Valencia. - Specialty Laboratories Inc., newly relocated re·lo·cate v. re·lo·cat·ed, re·lo·cat·ing, re·lo·cates v.tr. To move to or establish in a new place: relocated the business. v.intr. to Valencia, on Thursday Thursday: see week. boasted an 11.6 percent increase in revenue for the third quarter. Net revenue was $38.7 million compared with $34.6 in June through September of 2004. Net income was $519,000, compared with a loss of $2.2 million in 2004. Results include $639,000 in expenses primarily related to legal expenses incurred in connection with the merger announced earlier this month between Specialty and AmeriPath Inc. Specialty, a clinical reference laboratory for hospitals, relocated from Santa Monica Santa Monica (săn`tə mŏn`ĭkə), city (1990 pop. 86,905), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1886. Tourism and retailing are important, and the city has motion-picture, biotechnology, and software industries. to Valencia last year. The company has since gone through a management shift, and then came news of the merger. The local operation will continue. ``We are pleased with the progress we have made on certain expense-reduction initiatives, which began in the second quarter, and the impact they had on our third-quarter performance,'' said David C. Weavil, Specialty's chief executive officer. ``We will continue to maintain our focus on service, selling and profit improvements in the fourth quarter and beyond.'' According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the quarterly report, business was up more than 17 percent compared with last year's third quarter, but down only slightly from the second quarter. Specialty performs highly advanced clinical tests used by physicians to diagnose diagnose /di·ag·nose/ (di´ag-nos) to identify or recognize a disease. di·ag·nose v. 1. To distinguish or identify a disease by diagnosis. 2. , monitor and treat disease. The company provides hospitals, laboratories and specialist physicians with testing for nonroutine needs. |
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