SPECIALTY LABS SEES INCOME GROW.Byline: Daily News VALENCIA - Specialty Laboratories Inc., a clinical reference laboratory that recently 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, announced a 17.3 percent increase in net revenue for the second quarter. Net revenue was $39 million compared with $33.2 million in the second quarter. Net loss was $2.4 million, compared with a loss of $353,000 in the previous quarter. The company attributed the loss primarily to the write-off of software costs for a discontinued dis·con·tin·ue v. dis·con·tin·ued, dis·con·tin·u·ing, dis·con·tin·ues v.tr. 1. To stop doing or providing (something); end or abandon: information technology program and two severance The act of dividing, or the state of being divided. The term severance has unique meanings in different branches of the law. Courts use the term in both civil and criminal litigation in two ways: first, when dividing a lawsuit into two or more parts, and second, when payments to executive officers who resigned. ``Our second-quarter performance represents progress,'' Richard K. Whitney, chairman of the board, said in a statement. ``Our test volumes continue to grow, we have made modest progress toward achieving profitability and we have taken significant steps to strengthen our management team - however, we still have much work ahead.'' Specialty Laboratories 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, which 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's Tournament Road, provides hospitals, laboratories and specialty physicians a testing for nonroutine needs. |
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