UPDATE 2-AmerisourceBergen profit tops analyst views

Tue Nov 3, 2009 8:06am EST
 
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* Q4 EPS of 44 cents vs 40-cent Wall St view

* Sees FY 2010 EPS at $1.82-$1.92 (Adds details from results, forecast)

NEW YORK, Nov 3 (Reuters) - Pharmaceutical wholesaler AmerisourceBergen Corp (ABC.N) reported a 13 percent rise in quarterly profit on Tuesday, helped by increased use of more profitable generic drugs and lower operating expenses.

The company posted a net profit of $130.1 million, or 44 cents per share, for its fiscal fourth quarter, compared with a profit of $114.9 million, or 36 cents per share, a year ago.

Analysts on average expected 40 cents per share, according to Thomson Reuters I/B/E/S.

Revenue rose 9 percent to $18.72 billion. Analysts expected $18.06 billion.

Operating expenses comprised only 1.68 percent of revenue compared with 1.89 percent a year earlier.

For fiscal year 2010, the Valley Forge, Pennsylvania-based company projected earnings in a range of $1.82 to $1.92 per share, an increase of 8 percent to 14 percent. Analysts expect $1.84.

The company projected fiscal-year revenue growth of between 5 percent and 7 percent. (Reporting by Lewis Krauskopf, Editing by Maureen Bavdek)

 

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