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WALTHAM, Mass. (AP) - Medical diagnostics company Alere Inc. said Wednesday it returned to profit in the third quarter as revenue grew, and because of a big gain related to a joint venture with Procter Gamble Co.

The company reported a profit of $234.2 million, or $2.48 per share. Excluding a $288.9 million gain connected to the venture with P and other one-time charges, Alere earned 67 cents per share in its latest quarter. A year ago the company posted a net loss of $2.8 million, or 3 cents per share. Adjusted to exclude one-time charges, the company said it earned 59 cents a year ago.

Analysts expected the company to report an adjusted profit of 58 cents per share and $584.8 million in revenue, according to FactSet. Shares of Alere jumped $3.06, or 14.5 percent, to close at $24.18.

Alere said revenue from its professional diagnostic business Monster Beats Outlet grew 18 percent to $430 million, helped by greater influenza revenue in North America, and revenue from recent acquisitions. Revenue from its health management business fell 15 percent to $129.9 million as state governments cut back on their spending and Medicare revised its billing guidance.

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Mama June Sets Up Trust Fund For Honey Boo Boo Daughters Access Hollywood - Mon, Jan 7, 2013 Honey Boo Boo is going to be just fine financially when she gets older, thanks to wise financial planning from Mama June. The reality TV mother has revealed she siphons the majority of the family's "Here Comes Honey Boo Boo" earnings into trust funds More »

2013 May Be the Year Employees Say 'I Quit!' CNBC - 3 hours ago The steady drumbeat of "you're just lucky to have a job" that played through the recession is finally starting to fade and employees may be getting ready to say, "I quit!" and bolt . More »

Giant squid filmed in Pacific depths: Japan scientists AFP News - 15 hours Monster Beats ago Scientists and broadcasters said Monday they have captured footage of an elusive giant squid roaming the depths of the Pacific Ocean, showing it in its natural habitat for the first time ever.

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