Unilab’s Earnings Drop to $16,000 in 1st Quarter

Unilab Corp., a Tarzana-based clinical laboratory testing company, saw its earnings plunge to $16,000 in the first quarter that ended March 31 from $3.25 million a year earlier.

The latest quarter’s results included a one-time, pretax restructuring charge of $1.3 million from Unilab’s consolidation of its Northern California facilities with those of recently acquired PathLab in San Jose.

Unilab, which completed a companywide restructuring in November, had revenue of $35.5 million in the first quarter, down 38% from $57 million in revenue a year before.