AmerisourceBergen revenue down 1.9 percent for quarter, diluted EPS up 8 percent

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.