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Amerisource Bergen Earnings

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Amerisource Bergen, part of our Global Opportunities portfolio, reported earnings this morning of $0.69/share, a couple of pennies better than expected.

AmerisourceBergen Corporation (ABC) today reported that in its fiscal year 2013 first quarter, ended December 31, 2012, diluted earnings per share from continuing operations were $0.69, a 13 percent increase. Revenue in the quarter was $21.5 billion, up 6 percent. The Company also reaffirmed its expectations for fiscal year 2013 diluted earnings per share from continuing operations in the range of $3.06 to $3.16. All the results are presented in accordance with U.S. generally accepted accounting principles (GAAP).

Fiscal First Quarter Highlights

  • Revenue of $21.5 billion, up 5.7 percent.
  • Diluted earnings per share from continuing operations of $0.69, a 13.1 percent increase.
  • Gross profit of $671.9 million, up 15.1 percent.
  • Operating income of $287.3 million, up 2.1 percent.
  • Share repurchases of $284.7 million.

“We are off to a solid start in our fiscal year 2013, with December quarter results in line with our expectations,” said Steven H. Collis, AmerisourceBergen President and Chief Executive Officer. “During the quarter, we successfully implemented our previously announced new contract with our largest customer, and we continued to make progress on the integration of World Courier. As we look ahead, we are well positioned to meet our objectives for the year and to continue to have significant financial flexibility.”

We’ll post more details later.

For information on Alhambra Investment Partners’ money management services and global portfolio approach to capital preservation, Joe Calhoun can be reached at: jyc3@alhambrapartners.com or    786-249-3773.

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