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BERGEN BRUNSWIG REPORTS FOURTH QUARTER AND YEAR END RESULTS

 ORANGE, Calif., Oct. 4 /PRNewswire/ -- Bergen Brunswig Corp. (AMEX: BBC) today reported results for the fourth quarter and fiscal year ended Aug. 31, 1993.
 Net sales and other revenues for the year were a record $6.8 billion, an increase of 35 percent, compared to $5.0 billion for fiscal 1992. For the fourth quarter, net sales and other revenues were $1.8 billion compared to $1.3 billion in the prior year's fourth quarter, a 31 percent increase.
 Earnings from continuing operations for the year ended Aug. 31, 1993, were $28.6 million, or $.79 per share, compared to $53.0 million, or $1.36 per fully diluted share, a year ago. Earnings from continuing operations in fiscal 1993 include the effects of an after-tax restructuring charge of $20.8 million and after-tax costs of $1.5 million associated with the termination in June of the bid for Office Commercial Pharmaceutique (OCP). Earnings from continuing operations before these unusual charges for the year were $50.9 million, or $1.40 per fully-diluted share, compared to $53.0 million, or $1.36 per fully-diluted share, a year ago. Net earnings for the current fiscal year, including extraordinary after-tax charges totaling $2.5 million related to the redemption of bonds, were $26.0 million, or $.72 per fully-diluted share. Net earnings for fiscal 1992 were $60.9 million, or $1.53 per fully-diluted share, which included income from the discontinued operations and sale of Commtron Corp. of $7.9 million.
 For the fourth quarter ended Aug. 31, 1993, the company reported a net loss from continuing operations of $13.1 million including the after-tax restructuring charge of $20.8 million and after-tax costs of the OCP termination of $1.5 million. A majority of the restructuring charge is a non-cash, one-time charge to the fourth quarter. Before the unusual charges to the fourth quarter, earnings from continuing operations would have been $9.2 million and earnings from continuing operations per fully-diluted share would have been $.25. In the prior year's fourth quarter, earnings from continuing operations were $14.9 million or $.39 per fully-diluted share.
 The restructuring of the company's drug distribution business, which was announced Sept. 20, 1993, addresses current adverse trends that have affected the wholesale drug industry's gross profit margins. These include lower manufacturers' price increases and a highly competitive business environment. A slowing in internal sales growth, excluding acquisitions, from a five-year average of 13 percent to 7 percent this year also appears to be consistent with industry trends, with slower sales being reported by drug manufacturers as well.
 The Company experienced rapid growth during fiscal 1993 with acquisitions totaling over $1.4 billion in annual sales. The plan to restructure consists of an accelerated consolidation of distribution facilities into larger, more efficient regional distribution centers; the merging of duplicate operating systems; the reduction of administrative support in areas not affecting valued services to customers; and the discontinuance of services and programs that do not meet the company's strategic and economic return objectives.
 Robert E. Martini, chairman and chief executive officer, noted that the restructuring process has already begun with the consolidation of three divisions during fiscal 1993.
 "One of the company's top priorities is to complete the restructuring plan over the next 18 months. Restructuring should enable us to fulfill our objectives of providing high quality service and increasing our financial strength and operating efficiency, while maximizing shareowner returns," Martini said.
 Bergen Brunswig Corp. is one of the nation's largest distributors of pharmaceuticals and other health care products.
 Financials attached.
 BERGEN BRUNSWIG CORP.
 Summary of Consolidated Sales and Earnings
 (Unaudited)
 (In thousands, except share and per share amounts)
 Fourth Fiscal Quarter 12 Months
 Ended Aug. 31, Ended Aug. 31,
 1993 1992 1993 1992
 Net sales and
 other revenues $1,756,409 $1,340,871 $6,823,552 $5,048,309
 Costs and expenses:
 Cost of sales 1,649,923 1,258,781 6,388,744 4,729,038
 Distribution, selling,
 general and
 administrative
 expenses 90,749 57,448 330,825 228,857
 Restructure charge 33,000 --- 33,000 ---
 Total costs and
 expenses 1,773,672 1,316,229 6,752,569 4,957,895
 Operating earnings
 (loss) from continuing
 operations (17,263) 24,642 70,983 90,414
 Net interest expense 5,215 976 22,723 6,944
 Earnings from continuing
 operations before taxes
 on income (22,478) 23,666 48,260 83,470
 Tax expense (benefit)
 on income (loss) from
 continuing operations (9,350) 8,792 19,653 30,458
 Earnings (loss) from
 continuing operations (13,128) 14,874 28,607 53,012
 Earnings from
 discontinued operations,
 net of taxes on income --- 2,866 --- 7,852
 Earnings (loss) before
 extraordinary loss (13,128) 17,740 28,607 60,864
 Extraordinary loss from
 early extinguishment
 of debt, net of income
 tax benefit of $1,786 --- --- (2,570) ---
 Net earnings (loss) ($13,128) $17,740 $26,037 $60,864
 Average number of
 common and common
 equivalent shares:
 Primary 36,518,337 35,970,542 36,313,436 37,644,849
 Fully diluted 36,518,694 43,738,033 39,782,814 45,416,860
 Earnings (loss) per
 share:
 Primary:
 Continuing operations ($.36) $.41 $.79 $1.41
 Discontinued operations --- .08 --- .21
 Earnings (loss) before
 extraordinary loss (.36) .49 .79 1.62
 Extraordinary loss --- --- (.07) ---
 Net earnings (loss) ($.36) $.49 $.72 $1.62
 Fully diluted:
 Continuing operations ($.36) $.39 $.79 $1.36
 Discontinued operations --- .07 --- .17
 Earnings (loss) before
 extraordinary loss (.36) .46 .79 1.53
 Extraordinary loss --- --- (.07) ---
 Net earnings (loss) ($.36) $.46 $.72 $1.53
 Earnings per common and common equivalent share are based on the weighed average number of shares of Class A Common Stock outstanding during each period, the assumed conversion of the weighted average number of shares of Class B Common Stock outstanding during each period and the assumed exercise of employees' stock options. Fully diluted earnings per share for the fourth quarter and full year of fiscal 1992 assume conversion of the LYONs due 2004 (zero coupon-subordinated) from the issue date of Nov. 16, 1989. The computation of fully diluted earnings per share was anti-dilutive for fiscal 1993.
 NOTE: Addback to net earnings for fully diluted earnings per share computation:
 LYONs interest, net
 of tax effect --- $2,251 --- $8,735
 -0- 10/4/93
 /CONTACT: Neil F. Dimick, executive VP, CFO of Bergen Brunswig, 714-385-4079/
 (BBC)


CO: Bergen Brunswig Corp. ST: California IN: MTC SU: ERN

MF-JB -- LA010 -- 8190 10/04/93 09:08 EDT
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Date:Oct 4, 1993
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