(Adds full-year outlook)
May 12 U.S. drug wholesaler McKesson Corp
on Monday said profit rose in the latest quarter,
exceeding analyst expectations, thanks to strength in its
distribution and technology solutions units.
For the fiscal fourth quarter ended March 31, the company
posted net income of $371 million, up from $259 million in the
year-earlier period. On a per share basis, net income from
continuing operations rose to $1.56 from $1.11.
Excluding special items, earnings from continuing operations
were $2.55 a share.
On that basis, analysts on average expected earnings of
$2.40 per share, according to Thomson Reuters I/B/E/S.
Revenue rose 25 percent to $38.14 billion, which was above
Wall Street expectations of $35.86 billion.
San Francisco-based McKesson also gave a forecast for fiscal
2015 earnings, excluding special items, of $10.40 to $10.80 a
share. It said its acquisition of German drug distributor
Celesio AG will significantly increase revenue growth
in its distribution business.
McKesson also forecast softer price increases for generic
drugs that are outside of an exclusivity period. It predicted
price growth for those drugs in the high single digits in the
year ahead, down from last year's levels.
(Reporting by Susan Kelly in Chicago; Editing by David Gregorio
and Lisa Shumaker)