McKesson Q4 Revenues Up 2%
For the fourth quarter of 2010, the company posted a net income of $348m, or $1.26 per diluted share, compared to $281m, or $1.01 per diluted share, for the prior year period. Operating income was $573m, compared to $498m for the prior year period.
For the fiscal year ended March 31, 2010, the company has posted a net income of $1.26 billion, or $4.62 per diluted share, compared to $823m, or $2.95 per diluted share, for the year ago period. Revenues were $108.7 billion for the 12 months, compared to $106.6 billion for the year ago period. Operating income was $2 billion, compared to $1.19 billion for the year ago period.
John Hammergren, chairman and CEO of the company, said: “As we look ahead to Fiscal 2011, we expect many of the trends that have contributed to our success will continue. In Distribution Solutions, generics will be a strong driver for our business. Additionally, our broad range of value-added services to branded pharmaceutical manufacturers should result in steady levels of compensation.
“In technology solutions, our fourth-quarter bookings position us for strong results in Fiscal 2011. Finally, our company is on track to provide strong operating cash flow. Based on the solid trends in our business, McKesson expects to earn between $4.72 and $4.92 per diluted share for the fiscal year ending March 31, 2011.”
Will the company reach expected per share earnings in fiscal 2011?
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