AmerisourceBergen sees 'strong performance' for Q3

VALLEY FORGE, Pa. — AmerisourceBergen on Thursday reported increased revenue of $30.3 billion for third-quarter 2014 ended June 30, a 39% increase. Adjusted diluted earnings per share from continuing operations increased 29.5% percent to $1.01.

“We delivered very strong performance in our June quarter, driven by the onboarding of substantial new business, and excellent operational and financial results,” said Steven H. Collis, AmerisourceBergen president and CEO. “In addition, we made important progress with our strategic objectives, and continued to make significant long-term investments in our business. We finalized our agreement to acquire a minority stake in Profarma Distribuidora de Produtos Farmacêuticos S.A., and launched the specialty joint venture in Brazil. We generated substantial free cash flow, continued to take steps to improve our balance sheet, and positioned ourselves well to meet or exceed our financial objectives for the full fiscal year.”

The company also reported that:

  • Gross profit was $822.7 million, a 21.2% increase over the same period the previous year;
  • Operating expenses were $429.2 million, up 17.2% over the same period last year;
  • Operating income totalled $393.5, up 26% from the prior year;
  • An effective tax rate of 38%, which the company said is slightly higher than the previous year; and
  • Shares outstanding were 230.7 million, which is a decrease of 2.1% from the previous year.
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