Company Confirms Diluted Earnings Per Share of $.62-$.63,
Excluding Special Items, for December Quarter
VALLEY FORGE, PA, December 19, 2001 -- AmerisourceBergen Corporation (NYSE:ABC) today announced that Neil F. Dimick, Executive Vice President and Chief Financial Officer, has chosen to leave the Company for personal reasons as soon as a successor can be selected and a smooth transition accomplished. The Company expects to hire a new Chief Financial Officer within the next several months, and has retained an executive search firm to conduct a national search.
The Company also confirmed its comfort with an earnings expectation of $.62 to $.63 per diluted share, excluding special items, for the quarter ending December 31, 2001, and expects the revenue increase over the prior year's pro forma fiscal first quarter to be at the high end of the previous estimate of 15 percent to 17 percent. For fiscal year 2002, the Company reconfirmed its guidance of $2.90 per diluted share before special items, an increase of 25 percent over last year's reported earnings per share.
R. David Yost, AmerisourceBergen President and Chief Executive Officer, said, “I regret that Neil will not be coming to Valley Forge as part of the senior management team, but I respect his decision. Neil was an early and enthusiastic supporter of the AmeriSource Health-Bergen Brunswig merger that created AmerisourceBergen, and his commitment to an orderly transition of his duties is in keeping with his high level of professionalism.”
Mr. Dimick stated, “ I am more convinced than ever that the merger was the right decision for the two companies. The integration is moving ahead as planned, and we are already seeing positive results. However, for personal reasons, I do not want to leave my home in California and move to Pennsylvania at this time.
“I will continue my active involvement with AmerisourceBergen until my successor is solidly in place, including the reporting of the Company's fiscal first quarter results on January 24, 2002.”
About AmerisourceBergen
AmerisourceBergen (NYSE:ABC) is the largest pharmaceutical services company in the United States dedicated solely to the pharmaceutical supply chain. It is the leading distributor of pharmaceutical products and services to the hospital systems/acute care market, alternative care facilities, independent community pharmacies, and regional chains. The Company is also a leader in the institutional pharmacy marketplace. With approximately $35 billion in annualized operating revenues, AmerisourceBergen is headquartered in Valley Forge, PA, and employs more than 13,000 people serving over 25,000 customers.
Forward-Looking Statements
This press release may contain certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained in the forward-looking statements. The forward-looking statements herein include statements addressing future financial and operating results of AmerisourceBergen and the benefits and other aspects of the merger.
The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: the risk that the businesses of AmeriSource and Bergen Brunswig will not be integrated successfully; failure to obtain and retain expected synergies; and other economic, business, competitive and/or regulatory factors affecting the business of AmerisourceBergen generally.
More detailed information about these factors is set forth in AmeriSource's and Bergen Brunswig's filings with the Securities and Exchange Commission, including each of their Annual Reports on Form 10-K for fiscal 2000, their most recent quarterly reports on Form 10-Q, and their joint proxy statement-prospectus dated August 1, 2001.
AmerisourceBergen, AmeriSource and Bergen Brunswig are under no obligation to (and expressly disclaim any such obligation to) update or alter their forward-looking statements whether as a result of new information, future events or otherwise.