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Omnicare CEO Discusses Q4 2011 Results - Earnings Call Transcript

Stocks in this article: OCR

One of our core operating objectives is to create more standardization across our organization in an effort to benefit both Omnicare and its customers. And with the inherent demand within our industry, due to the aging population, I believe our operationally driven orientation positions us well to accelerate the efficiency of our industry while improving health outcomes for our residents.

I believe we offer investors many important values and value drivers, including our industry-leading long-term care business, a rapidly growing specialty care group, and our strong cash flow characteristics which support our ability to fund acquisitions, invest in our underlining operations, and return capital to investors.

We intend to remain opportunistic, yet disciplined about the many opportunities in front of us in order to maintain our long-term focus on value creation for our investors. We thank the many Omnicare and PharMerica shareholders who supported our proposal as well as our employees who remained focused on executing our business objectives throughout the process.

Turning now to the quarter, we are very pleased with our solid fourth quarter results, which validates the progress our organization has made in becoming more operationally driven and customer focused. We exited the year a much stronger company, and we are now realizing the benefits in the investments we made throughout 2011.

As we look to 2012 and beyond, we believe Omnicare is well positioned to generate long-term profitability growth in both core businesses; long-term care and specialty care, while positively affecting the many stakeholders on behave of whom we run our business.

For the quarter, we generated adjusted EPS of $0.58 which represents a sequential increase of 7% and a 14% improvement over the fourth quarter of 2010. This solid quarterly performance brought our full-year 2011 adjusted EPS to $2.13, which is toward the high-end of the financial guidance we provided a year ago.

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