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AmerisourceBergen Corporation (NYSE:ABC) today reported that in its fiscal year third quarter ended June 30, 2012, diluted earnings per share were $0.71, an 8 percent increase over the prior year quarter. Revenue in the quarter was $19.8 billion, down 1.9 percent. The Company also narrowed the range of its expectations for the full fiscal year 2012 diluted earnings per share to $2.80 to $2.84 from its previous range of $2.74 to $2.84. All the results are presented in accordance with U.S. generally accepted accounting principles (GAAP).
Fiscal Third Quarter Highlights
Revenue of $19.8 billion, down 1.9 percent.
Diluted earnings per share of $0.71, a 7.6 percent increase.
Gross margin of 3.49 percent, up 25 basis points.
Operating margin of 1.59 percent, up 2 basis points.
Share repurchases of $186 million.
Fiscal First Nine Months Highlights
Revenue of $60.2 billion, up 0.7 percent.
Diluted earnings per share of $2.13, a 6.5 percent increase.
Gross margin of 3.28 percent, a 7 basis point increase.
Operating margin of 1.61 percent, a 1 basis point increase.
Cash flow from operations of $760 million.
Share repurchases of $514 million.
“In our June quarter, AmerisourceBergen delivered solid performance across all of its business units, and overcame a difficult comparison to the same quarter last year,” said Steven H. Collis, AmerisourceBergen President and Chief Executive Officer. “The results for both the quarter and year-to-date continue to demonstrate the value of our two primary growth drivers – generics and specialty pharmaceuticals. In addition, our demonstrated discipline in expense and working capital management continues to strengthen our operations and our balance sheet, and we continue to have tremendous financial flexibility. We have made outstanding progress in the integration of the acquisitions we have made this year, and we are more convinced than ever that they will make significant contributions to our growth in the years ahead.”