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BERGEN BRUNSWIG REPORTS THIRD QUARTER AND NINE MONTHS RESULTS

 ORANGE, Calif., June 16 /PRNewswire/ -- Bergen Brunswig Corp. (AMEX: BBC) today reported results for the third fiscal quarter and nine months ended May 31, 1993.
 Net sales and other revenues for the quarter increased 32 percent, to a record $1.76 billion, from $1.34 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 5 percent over last year's third quarter.
 Earnings from continuing operations for the quarter were $14.5 million, or $.40 per share, fully diluted, compared to $16.0 million, or $.41 per fully diluted share, in the prior year's quarter. Last year's third quarter net earnings were $17.2 million, which included $1.2 million, or $.03 per fully diluted share, from discontinued operations.
 Net sales and other revenues for the nine months ended May 31, 1993, were $5.1 billion, an increase of 37 percent, compared to $3.7 billion in the first nine months of last year. The increase in net sales for the nine months is also primarily attributable to acquisitions.
 Earnings from continuing operations for the first nine months were $41.7 million, or $1.11 per share, fully diluted, compared to earnings from continuing operations of $38.1 million, or $.97 per fully diluted share, for the nine 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 nine-month period were $39.2 million, or $1.05 per fully diluted share, compared to $43.1 million, or $1.08 per fully diluted share, for the same period last year.
 This year's net earnings results for the nine months are reduced by a $2.6 million, or $.06 per share, extraordinary loss from early extinguishment of debt, while the same period last year included after- tax earnings from discontinued operations of $5.0 million, or $.11 per fully diluted share.
 Robert E. Martini, chairman and chief executive officer of Bergen Brunswig, said, "Although revenues for the third quarter were 32 percent higher than in the third quarter of last year, that rate of increase was less than the 39 percent increase in the second quarter of this year over the second quarter of last year. A key factor in the slowdown of that growth rate is a decrease in the internal growth rate from 10 percent, to 5 percent which mirrors a trend that has been impacting the industry recently."
 Martini concluded: "Although competition and efforts to facilitate health care reform have continued to put pressure on margins, the company increased its operating earnings (i.e., earnings before interest and taxes) from continuing operations 10.5 percent, to $30.4 million, compared with $27.6 million in the third quarter of last year. For the nine months, operating earnings from continuing operations were $88.2 million, a 34.2 percent increase over $65.8 million for the first nine months of last year, which included an $8 million provision for probable losses incurred in connection with credit extended to certain customers.
 "We were able to achieve this increase in operating earnings by increasing our revenues through internal growth and acquisitions and by continuing to reduce our operating expenses. We have done that, in part, by investing in more efficient distribution facilities. Our new distribution center in Houston, for example, utilizes automation in filling more than 85 percent of its orders. Our continued emphasis on increasing efficiency supports our objective of being a cost saver in the American health care system."
 Bergen Brunswig Corp. is one of the nation's largest distributors of pharmaceuticals and other health care products.
 BERGEN BRUNSWIG CORP.
 Summary of Consolidated Sales and Earnings
 (Unaudited)
 (In thousands except share and per share amounts)
 Third Fiscal Quarter Nine Months
 Ended May 31, Ended May 31,
 1993 1992 1993 1992
 Net sales and
 other revenues $1,764,608 $1,338,329 $5,067,143 $3,707,438
 Costs and expenses:
 Cost of sales 1,651,168 1,252,951 4,738,821 3,470,257
 Distribution,
 selling, general
 and administrative
 expenses 82,992 57,823 240,076 171,409
 Total costs
 and expenses 1,734,160 1,310,774 4,978,897 3,641,666
 Operating earnings
 from continuing
 operations 30,448 27,555 88,246 65,772
 Net interest expense 5,954 2,493 17,508 5,968
 Earnings from
 continuing
 operations
 before taxes
 on income 24,494 25,062 70,738 59,804
 Taxes on income
 from continuing
 operations 10,043 9,044 29,003 21,666
 Earnings from
 continuing operations 14,451 16,018 41,735 38,138
 Earnings from
 discontinued
 operations, net
 of taxes on income --- 1,221 --- 4,986
 Earnings before
 extraordinary loss 14,451 17,239 41,735 43,124
 Extraordinary loss
 from early
 extinguishment of
 debt, net of income
 tax benefit of $1,786 --- --- (2,570) ---
 Net earnings $14,451 $17,239 $39,165 $43,124
 Average number of
 common and common
 equivalent
 shares:
 Primary 36,527,108 36,936,583 36,245,136 38,202,951
 Fully diluted 36,529,182 44,714,093 40,883,560 45,983,555
 Earnings per share:
 Primary:
 Continuing operations $.40 $.43 $1.15 $1.00
 Discontinued operations --- .04 --- .13
 Earnings before
 extraordinary loss .40 .47 1.15 1.13
 Extraordinary loss --- --- (.07) ---
 Net earnings $.40 $.47 $1.08 $1.13
 Fully diluted:
 Continuing operations $.40 $.41 $1.11 $.97
 Discontinued operations --- .03 --- .11
 Earnings before
 extraordinary loss .40 .44 1.11 1.08
 Extraordinary loss --- --- (.06) ---
 Net earnings $.40 $.44 $1.05 $1.08
 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 --- $2,202 $3,812 $6,484
 -0- 6/16/93
 /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

JB-BP -- LA001 -- 2486 06/16/93 09:04 EDT
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Date:Jun 16, 1993
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