Valley Forge-based pharmaceutical wholesaler AmerisourceBergen reported Thursday that it had a 1.9 percent drop in revenue for the quarter, but an 8 percent increase in the diluted earnings per share.
AmerisourceBergen's fiscal year ends in September, so the company just completed its third quarter.
The company's report indicated there was a 1.7 percent drop in net income from the same period in 2011.
The highlights from the company press release are below:
VALLEY FORGE, PA, July 26, 2012 - 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.