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BERGEN BRUNSWIG REPORTS SECOND QUARTER AND FIRST HALF RESULTS

 ORANGE, Calif., March 15 /PRNewswire/ -- Bergen Brunswig Corp. (AMEX: BBC) today reported results for the second fiscal quarter and first six months ended Feb. 28, 1993.
 Net sales and other revenues for the quarter increased 40 percent to a record $1.70 billion from $1.22 billion for the comparable quarter last year. The increase in net sales is primarily attributable to the acquisition of Durr-Fillauer Medical Inc. in September 1992 and other drug distribution operations. Internal growth was approximately 10 percent over last year's second quarter.
 Earnings from continuing operations for the quarter were $15.4 million, or $.40 per share, fully diluted, compared to $15.5 million, or $.39 per fully diluted share in the prior-year's quarter. During the quarter, the company recognized an after-tax extraordinary loss of $2.6 million or $.06 per fully diluted share from early extinguishment of $216 million of convertible zero coupon- subordinated debentures. The extraordinary loss brings net earnings for the quarter to $12.8 million, or $.34 per fully diluted share. This compares to last year's second quarter earnings of $17.0 million, or $.42 per fully diluted share, which included $1.5 million earnings from discontinued operations.
 Net sales and other revenues for the six months ended Feb. 28, 1993 were $3.30 billion, an increase of 39 percent, compared to $2.37 billion in the first half of last year. The increase in net sales for the first six months is also primarily attributable to the acquisition of Durr-Fillauer Medical Inc. and other drug distribution operations. The internal growth rate was also approximately 10 percent during the first six months. Earnings from continuing operations for the first six months were $27.3 million or $.72 per share, fully diluted, compared to earnings from continuing operations of $22.1 million or $.57 per fully diluted share for the six months last year. Last year's earnings from continuing operations included a $5.1 million after-tax charge for probable losses incurred in connection with credit extended to certain customers.
 Net earnings for the six-month period were $24.7 million or $.66 per fully diluted share, compared to $25.9 million or $.65 per fully diluted share for the same period last year. This year's net earnings results include the $2.6 million extraordinary loss from early extinguishment of debt, while the same period last year included after-tax earnings from discontinued operations of $3.8 million.
 Robert E. Martini, chairman and chief executive officer of Bergen Brunswig, said, "Our ongoing objective is to improve efficiency and enhance customer service while reducing the distribution, selling and administrative costs as a percent of net sales. Approximately 40 percent of our drug distribution is now being accomplished through large, efficient regional distribution centers. Another of these RDCs is scheduled to open in late 1993 in the Richmond, Va., area.
 "Despite a significant gain in market share, operating earnings for the period continue to be impacted by vigorous competition and reduced investment buying opportunities."
 Martini also commented, "In our opinion, drug distributors are one of the most efficient providers in the health care industry. Over the past 10 years, pharmaceutical distributors, and Bergen Brunswig in particular, have developed many ways to take costs out of the pharmaceutical distribution system."
 Bergen Brunswig Corp. is one of the nation's largest distributors of pharmaceutical and other health care products.
 BERGEN BRUNSWIG CORP.
 Summary of Consolidated Sales and Earnings
 (In thousands, except share and per share amounts)
 (Unaudited)
 Second Fiscal Quarter Six Months
 Ended Ended
 Feb. 28 and Feb. 29, Feb. 28 and Feb. 29,
 1993 1992 1993 1992
 Net sales and
 other revenues $1,702,278 $1,219,888 $3,302,535 $2,369,109
 Costs and expenses:
 Cost of sales 1,591,010 1,139,449 3,087,653 2,217,306
 Distribution,
 selling, general
 & administrative
 expenses 78,708 53,353 157,084 113,586
 Total costs and
 expenses 1,669,718 1,192,802 3,244,737 2,330,892
 Operating earnings
 from continuing
 operations 32,560 27,086 57,798 38,217
 Net interest expense 6,533 2,470 11,554 3,475
 Earnings from
 continuing operations
 before taxes on
 income 26,027 24,616 46,244 34,742
 Taxes on income
 from continuing
 operations 10,671 9,131 18,960 12,622
 Earnings from
 continuing
 operations 15,356 15,485 27,284 22,120
 Earnings from
 discontinued
 operations, net of
 taxes on income --- 1,490 --- 3,765
 Earnings before
 extraordinary loss 15,356 16,975 27,284 25,885
 Extraordinary loss
 from early
 extinguishment of
 debt, net of
 income tax
 benefit of $1,786 (2,570) --- (2,570) ---
 Net earnings $12,786 $16,975 $24,714 $25,885


Average number of
 common and common
 equivalent shares:
 Primary 36,250,723 37,580,046 36,104,148 38,836,134
 Fully diluted 42,464,716 45,355,501 43,099,181 46,607,657
 Earnings per share:
 Primary:
 Continuing
 operations $.42 $.41 $.75 $.57
 Discontinued
 operations --- .04 --- .10
 Earnings before
 extraordinary loss .42 .45 .75 .67
 Extraordinary loss (.07) --- (.07) ---
 Net earnings $.35 $.45 $.68 $.67
 Fully diluted:
 Continuing
 operations $.40 $.39 $.72 $.57
 Discontinued
 operations --- .03 --- .08
 Earnings before
 extraordinary loss .40 .42 .72
 Extraordinary loss (.06) --- (.06) ---
 Net earnings $.34 $.42 $.66 $.65
 Earnings per common and common equivalent share are based on the weighted 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 assume conversion of the LYONs due 2004 (zero coupon-subordinated) from the issue date of Nov. 16, 1989, through the redemption date of Feb. 10, 1993.
 Note: Addback to net earnings for fully diluted earnings per share computation:
 LYONs interest, net
 of tax effect $1,702 $2,145 $3,812 $4,282
 -0- 3/15/93
 /CONTACT: Neil F. Dimick, executive VP and CFO of Bergen Brunswig, 714-385-4000/
 (BBC)


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

TS-LS -- LA007 -- 5891 03/15/93 09:02 EST
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