VALLEY FORGE, Pa. AmerisourceBergen is off to a good start in 2010 with a 44% increase in earnings per share, compared with the year-ago period.
During first-quarter fiscal 2010, which ended Dec. 31, the company recorded more positive numbers: as its earnings rose to 52 cents per share, revenue also rose 11.5% to $19.3 billion.
Gross profit also increased 8 basis points to 2.91%. The company said the profit spike was driven by strong growth in generic sales.
In line with the earnings report, AmerisourceBergen raised its fiscal 2010 EPS outlook from $1.89 to $1.98. Recently, the company announced a new program for long-term care pharmacies and an expanded program for retail pharmacies, under its PRxO Generics Solution. The new solutions are tailored to better meet customer needs as generic prescription demands continue to increase.
"We delivered exceptional performance across all our businesses, reflecting strong revenue growth, successful generic drug launches, and continued expense and working capital discipline," said David Yost, AmerisourceBergen's president and CEO.