AmerisourceBergen Q4 Profit Slumps - Quick Facts

(RTTNews) - AmerisourceBergen Corp. (ABC) reported a plunge in fourth-quarter net income to $51.02 million, or $0.22 a share, from $163.49 million, or $0.66 a share last year. On an adjusted basis, earnings per share from continuing operations were up 2.6 percent year-over-year to $0.79, that excludes LIFO expense and warrant expense. On average, 15 analysts polled by Thomson Reuters expected earnings per share of $0.75 for the quarter. Analysts' estimates typically exclude one-time items.

In the fourth quarter of fiscal 2013, revenue was $24.5 billion, up 28.3 percent, compared with $19.06 billion in the prior year, reflecting a 34 percent increase in AmerisourceBergen Drug Corporation revenue, and a 12 percent growth in AmerisourceBergen Specialty Group revenue. Analysts estimated revenues of $23.96 billion for the quarter.

Looking ahead, the firm expects fiscal 2014 adjusted earnings per share from continuing operations in the range of $3.60 - $3.73, and revenue growth of 28 percent - 31 percent.