Restructured Unilab Reports Profits for 4th Quarter, ’93

Unilab Corp., a Tarzana-based operator of clinical laboratories that completed a restructuring in November, reported profits for its fourth quarter and year ended Dec. 31.

The company’s fourth-quarter profit was $1.1 million, in contrast with a year-earlier loss of $90.4 million. Its quarterly revenue fell 26%, to $37.7 million from $50.9 million.

For all of 1993, Unilab’s profit was $6.51 million, in contrast with a loss of $98 million in 1992. Its annual revenue fell 3%, to $207.4 million from $213.9 million.

The 1993 results include a one-time, pretax charge of $5.6 million related to the company’s settlement of government claims.

Included in the 1992 results were $90.4 million in non-recurring charges from the write-off of intangible assets and goodwill.