McKesson 4Q Profit Falls Following Write-down
- Loading Comments...
SAN FRANCISCO (AP) Drug distributor McKesson Corp. on Monday posted an 8 percent drop in fiscal fourth-quarter profit after the company wrote down the value of an investment and reported flat sales which missed Wall Street's expectations.
McKesson said its profit decreased to $281 million, or $1.01 per share, from $307 million, or $1.05 per share, in the year-earlier period. The latest quarter includes a charge of $59 million, or 22 cents per share, to write down the value of its investment in Parata Systems LLC and a tax-related gain of $22 million, or 8 cents per share.
Revenue was about flat at $26.22 billion, as sales in both its distribution services business and technology services business were essentially unchanged year-over-year. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,366.15 | 1,099.92 | 2,173.14 | 33.80 |
Oil *
78.00
|
|
DOWN
86.53
|
DOWN
9.32
|
DOWN
11.89
|
UP
0.57
|
10 Yr
3.38%
SPDR Gold
118.70
|
|
-0.83%
|
-0.84%
|
-0.54%
|
+1.72%
|
Data delayed 20 minutes |
Connect with TheStreet