Unilab’s Sales Rise, but Profits Decline

Unilab Corp., the Tarzana-based clinical laboratory testing company, saw its profits tumble 89% in its third quarter compared to a year ago, while its sales rose 31%.

The company posted a $232,000 profit in the third quarter that ended Sept. 30, compared to a $2.1 million profit in the same period a year earlier. Sales in the latest quarter rose to $50.2 million, up from $38.3 million.

For nine months, the company posted a $36.7-million loss, compared to a $4.2-million profit a year ago. Sales for the latest nine months rose 24% to $140.3 million, up from $112.9 million.

The company attributed much of its loss to its recent acquisitions, but said that it had begun cost-cutting. Unilab is the biggest clinical lab testing concern in the state.