McKesson Q1 Net Profit Down - Quick Facts

(RTTNews) - U.S. drug distributor McKesson Corp. (MCK) reported a decline in first-quarter fiscal 2015 net income attributable to the company to $403 million, or $1.72 per share, from $424 million, or $1.83 per share, last year.

However, quarterly adjusted earnings per share from continuing operations were $2.49, up 18% compared with $2.11 last year. On average, 16 analysts polled by Thomson Reuters expect the company to report earnings of $2.33 per share for the quarter. Analysts' estimates typically exclude special items.

The company said first-quarter GAAP and adjusted earnings reflect a pre-tax charge of $34 million, or 11 cents per share, related to the reclassification of a portion of our International Technology business, previously reported in discontinued operations, to continuing operations.

Revenue for the first quarter totaled $44.1 billion, up 37% from $32.2 billion, reported a year back. Fourteen analysts projected $40.65 billion in revenues for the quarter.

Going ahead, McKesson sees adjusted earnings per share on continuing operations between $10.50 and $10.90 for the fiscal year ending March 31, 2015, based on an exchange rate of $1.36 per Euro.