• Most Popular
  • Most Shared

McKesson posts flat quarterly profit

Wed Jul 23, 2008 4:11pm EDT

Stocks

   

NEW YORK, July 23 (Reuters) - Pharmaceutical wholesaler McKesson Corp (MCK.N) reported flat quarterly profit on Wednesday, but revenue rose 9 percent, helped by an acquisition that contributed to growth in the drug distribution business.

Stocks  |  Global Markets

The San Francisco-based company posted a net profit of $235 million, or 83 cents per share, for its fiscal first quarter ended June 30, compared with a profit of $235 million, or 77 cents per share, a year ago.

Analysts on average expected 80 cents per share, according to Reuters Estimates.

After a strong 2007 performance, McKesson shares are down more than 15 percent in 2008 in what has been a tough year for the major players in the sector. The shares of rivals Cardinal Health Inc (CAH.N) and AmerisourceBergen Corp (ABC.N) are down about 9 percent and 12 percent, respectively. (Reporting by Bill Berkrot; Editing by Andre Grenon)

Stocks
Global Markets


More from Reuters

Afghan insurgents kill CIA agents, Canadians

KABUL (Reuters) - Insurgents intensified their campaign against military targets and U.S.-led forces in Afghanistan, killing eight U.S. CIA agents at a base and four Canadian servicemen on patrol and a journalist accompanying them.

» More Top News
A security camera sits on a building in New York City March 6, 2008. REUTERS/Joshua Lott

Trial run in Times Square

Critics say the Sept. 11 trials will endanger America's most populated city. Will a New Year's Eve plan hold up as New York's security template?  Full Article 

U.S.
People walk past a branch of Bank of America in New York's financial district April 28, 2009. REUTERS/Brendan McDermid
Rolfe Winkler:

Move your money

Boycotting "too big to fail" banks is a great idea -- so long as investors remember that banks aren't the only ones responsible for the crisis.  Full Article 

    Commentary