VALLEY FORGE, Pa.--(BUSINESS WIRE)--April 25,
2007--AmerisourceBergen Corporation (NYSE:ABC) today reported results
for its fiscal second quarter ended March 31, 2007. The following
results are presented in accordance with U.S. generally accepted
accounting principles (GAAP).
Fiscal Second Quarter Highlights
- Diluted earnings per share from continuing operations of
$0.68, up 11 percent.
- Operating revenue of $15.3 billion, up 9 percent.
- Pharmaceutical Distribution operating margin of 1.35 percent,
up 8 basis points.
- Cash flow from operations of $423 million, above expectations.
- Diluted earnings per share from continuing operations of
$1.30, up 20 percent.
- Operating revenue of $31.0 billion, up 12 percent.
- Pharmaceutical Distribution operating margin of 1.30 percent,
up 14 basis points.
- Cash flow from operations of $711 million.
- Capital deployment: $365 million in share repurchases, more
than $405 million in acquisitions closed or under agreement,
and dividend doubled.
"Our March quarter, historically our strongest, again produced
outstanding results, driven by strong performance in our traditional
drug and specialty distribution businesses," said R. David Yost,
AmerisourceBergen's Chief Executive Officer. "Our 9 percent operating
revenue growth was in line with expectations. Our excellent earnings
per share performance is a result of that revenue growth, expanding
margins in distribution, and our disciplined use of cash. During the
quarter, we committed more than $260 million in capital with the
agreements to acquire Bellco Health and Xcenda. In addition, we bought
back $35 million of our shares. We retain significant financial
flexibility with a strong balance sheet and solid cash position."
Discussion of Results
AmerisourceBergen's operating revenue was $15.3 billion in the
second quarter of fiscal 2007 compared to $14.0 billion for the same
period last year, a 9 percent increase. Bulk deliveries in the quarter
increased 5 percent to $1.23 billion from $1.17 billion in last fiscal
year's second quarter.
Consolidated operating income in the quarter increased 12 percent
to $220.9 million, primarily due to increased gross margin in the
Pharmaceutical Distribution segment. In addition, a $1.8 million gain
from settlements of pharmaceutical manufacturer antitrust litigation
cases, less $0.1 million of net charges for facility consolidations,
employee severance and other costs, had a net positive $1.6 million
impact on consolidated operating income in the fiscal 2007 second
quarter. In the previous fiscal year's second quarter, the net
positive impact of antitrust litigation settlements and charges for
facility consolidations, employee severance and other costs was $5.8
million.
Other income of $5.8 million for the second quarter of fiscal 2006
included $6.5 million relating to the sale of a small investment and
an eminent domain settlement.
The effective tax rate in the second quarter of fiscal 2007 was
38.5 percent up from 34.5 percent in the previous fiscal year's second
quarter, which included $5.5 million of favorable tax adjustments. The
Company expects the tax rate for the remaining quarters in fiscal 2007
to be between 37 percent and 38 percent.
Diluted earnings per share from continuing operations were $0.68
in the second quarter of fiscal 2007, compared to $0.61 in the
previous fiscal year's second quarter, an 11 percent increase.
Included in the results for the second quarter of fiscal 2007 is a
gain from the antitrust litigation settlements as well as a charges
for facility consolidations, employee severance and other costs, which
resulted in a charge, net of tax, of $0.3 million or zero cents per
diluted share.
Special items in the second quarter of fiscal 2006, which included
gains from antitrust litigation settlements, an investment sale and an
eminent domain settlement, and the tax adjustments, less the charges
for facility consolidations, employee severance and other costs,
resulted in a benefit, net of tax, of $13.6 million or $0.06 per
diluted share.
Diluted average shares outstanding for the second quarter of
fiscal year 2007 were 191.8 million, down 19 million from the previous
fiscal year's second quarter due to share repurchases, net of option
exercises.
For the first six months of fiscal 2007, AmerisourceBergen's
operating revenue was $31.0 billion compared to $27.6 billion for the
same period last year, a 12 percent increase. Bulk deliveries in the
first half of the fiscal year decreased 1 percent to $2.3 billion.
Consolidated operating income in the first six months of the
fiscal year increased 18 percent to $429.8 million due to operating
income growth in the Pharmaceutical Distribution segment.
For the first six months of fiscal 2007 diluted earnings per share
from continuing operations were $1.30, compared to $1.08 in the
previous year's first six months, a 20 percent increase.
"For the fiscal 2007 second quarter, excellent operating
performance in the Pharmaceutical Distribution segment more than
offset the lower than expected performance in the PharMerica segment,"
said Kurt J. Hilzinger, AmerisourceBergen's President and Chief
Operating Officer.
"Our Drug Corporation, which provides pharmaceutical distribution
and related services to pharmacies, led distribution performance in
the quarter with solid margin expansion. Performance under our
fee-for-service agreements, continued strong sales of generic
pharmaceuticals, and price appreciation were gross margin drivers in
the quarter. Benefits from Optimiz(R), our program to enhance the
efficiency of our distribution center network, continued to improve
our cost structure. Our pending acquisition of Bellco Health, a
pharmaceutical distributor, is expected to enhance our capability in
the distribution segment.
"With operating revenues up 27 percent, our Specialty Group, which
focuses on the distribution of specialty pharmaceuticals to physicians
and the services that support that market, continued its strong
growth. Its market-leading oncology businesses as well as other
distribution businesses to physicians continue to drive growth faster
than the overall pharmaceutical market.
"Our Packaging Group continued to perform well. In the quarter,
Anderson Packaging began packaging five new products for branded
manufacturers and American Health Packaging launched 11 new
proprietary generic product offerings for various customers. We
continued to invest in this business during the quarter with the
approval of a new 260,000-square-foot facility for Anderson in
Rockford, Illinois.
"Our PharMerica segment earnings lagged in the second quarter due
to lower than expected performance in the PMSI workers' compensation
business, primarily because of increased competitive pressure on
customer pricing. The Long Term Care business grew revenues 5 percent
in the quarter, and remains on track to meet our expectations for the
fiscal year."
Segment Review
AmerisourceBergen operates in two segments, Pharmaceutical
Distribution and PharMerica. Pharmaceutical Distribution includes the
operations of AmerisourceBergen Drug Corporation (ABDC), Specialty
Group (ABSG) and Packaging Group (ABPG), and PharMerica includes the
PharMerica Long Term Care (LTC) institutional pharmacy business and
PMSI, the workers' compensation business. Intersegment sales of $231.6
million in the second quarter of fiscal 2007 from AmerisourceBergen
Drug Corporation to PharMerica, which are included in the
Pharmaceutical Distribution segment's operating revenue, are
eliminated for consolidated reporting purposes.
Pharmaceutical Distribution Segment
Operating revenue of $15.1 billion in the second quarter of fiscal
2007 was up 9 percent compared to the same quarter in the previous
fiscal year as above market distribution growth in ABSG drove
operating revenues to the high end of overall market growth.
Pharmaceutical Distribution customer mix in the second quarter of
fiscal 2007 was 62 percent institutional and 38 percent retail.
For the segment, gross profit as a percentage of operating revenue
in the second quarter of fiscal 2007 was 3.23 percent compared to 3.16
percent in the same period in the prior fiscal year. The increase was
driven by margin expansion in ABDC as a result of strong performance
under fee-for-service agreements, generic sales growth that was above
overall market growth, and price appreciation. This offset a decline
in ABSG's gross margin due to its business mix, as its lower margin
distribution businesses grew faster than its higher margin service
businesses. Operating expenses as a percentage of operating revenue
for the segment in the fiscal 2007 second quarter were 1.87 percent,
down from 1.89 percent in the prior year's second quarter, reflecting
continuing operating leverage.
Segment operating income for the fiscal 2007 second quarter was
$203.9 million, a 16 percent increase over the same period in fiscal
2006. Operating income as a percentage of operating revenue in the
second quarter of 2007 was 1.35 percent, up eight basis points over
the same quarter last fiscal year.
PharMerica
PharMerica's operating revenue for the second quarter of fiscal
2007 was $431.4 million, compared with $412.7 million in the previous
year's second quarter, up 5 percent due to the growth in LTC. In the
second quarter of fiscal 2007, LTC operating revenues were $316.8
million and PMSI operating revenues were $114.6 million. Operating
income for the second quarter of fiscal 2007 was $15.4 million, down
from the same quarter last fiscal year, with LTC contributing $6.8
million and PMSI contributing $8.6 million. Operating income as a
percentage of revenue was 3.56 percent in the second quarter of fiscal
2007, down from the 3.92 percent in last year's second quarter due to
PMSI's relatively flat revenue growth and competitive pressures.
Looking Ahead
"In April 2007, we received an antitrust litigation settlement
that will provide a gain of $0.06 per diluted share in the third
fiscal quarter of 2007, which net of anticipated special charges over
the last half of the fiscal year, is expected to provide a benefit of
$0.05 per diluted share in the 2007 fiscal year," said Yost. "As a
result, we are raising our GAAP diluted earnings per share
expectations for fiscal 2007 by $0.05 to a range of $2.50 to $2.65
from a range of $2.45 to $2.60. The PharMerica Long-Term Care
business, which the Company continues to expect to spin off on a
tax-free basis to our shareholders by the end of June 2007, continues
to represent $0.09 to $0.11 of our earnings expectations for all of
fiscal year 2007. Our diluted earnings per share guidance for fiscal
2007 continues to assume operating revenue growth of 9 percent to 11
percent and reflects operating margin expansion in the high
single-digit basis point range for the Pharmaceutical Distribution
segment."
"With our operating cash generation coming in ahead of
expectations at the end of six months, we are raising our expectation
for free cash flow in fiscal year 2007 by $150 million to a range of
$575 million to $650 million from the previous range of $425 million
to $500 million. Capital expenditures, which are included in the free
cash flow expectation, remain unchanged in the $100 million to $125
million range," continued Yost. "We also continue to expect to
repurchase $450 million to $500 million of our common shares during
fiscal 2007."
Conference Call
The Company will host a conference call to discuss its results at
11:00 a.m. Eastern Daylight Time on April 25, 2007. Participating in
the conference call will be: R. David Yost, Chief Executive Officer;
Kurt J. Hilzinger, President and Chief Operating Officer; and Michael
D. DiCandilo, Executive Vice President and Chief Financial Officer.
To access the live conference call via telephone:
--------------------------------------------------
Dial in: (612) 288-0337, no access code required.
To access the live webcast:
----------------------------
Go to the Quarterly Webcasts section on the Investor Relations page at
http://www.amerisourcebergen.com.
A replay of the telephone call and webcast will be available from
2:30 p.m. April 25, 2007 until 11:59 p.m. May 2, 2007. The Webcast
replay will be available for 30 days.
To access the replay via telephone:
------------------------------------
Dial in: 800-475-6701 from within the U.S., access code: 869797
(320) 365-3844 from outside the U.S., access code: 869797
To access the archived webcast:
--------------------------------
Go to the Quarterly Webcasts section on the Investor Relations page at
http://www.amerisourcebergen.com.
About AmerisourceBergen
AmerisourceBergen (NYSE:ABC) is one of the world's largest
pharmaceutical services companies serving the United States, Canada
and selected global markets. Servicing both pharmaceutical
manufacturers and healthcare providers in the pharmaceutical supply
channel, the Company provides drug distribution and related services
designed to reduce costs and improve patient outcomes.
AmerisourceBergen's service solutions range from pharmacy automation
and pharmaceutical packaging to pharmacy services for skilled nursing
and assisted living facilities, reimbursement and pharmaceutical
consulting services, and physician education. With more than $64
billion in annual revenue, AmerisourceBergen is headquartered in
Valley Forge, PA, and employs more than 13,000 people.
AmerisourceBergen is ranked #29 on the Fortune 500 list. For more
information, go to www.amerisourcebergen.com.
Forward-Looking Statements
This news 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 following factors, among others, could cause actual
results to differ materially from those described in any
forward-looking statements: competitive pressures; the loss of one or
more key customer or supplier relationships; customer defaults or
insolvencies; changes in customer mix; supplier defaults or
insolvencies; changes in pharmaceutical manufacturers' pricing and
distribution policies or practices; adverse resolution of any contract
or other disputes with customers (including departments and agencies
of the U.S. Government) or suppliers; regulatory changes (including
increased government regulation of the pharmaceutical supply channel);
changes in U.S. government policies (including reimbursement changes
arising from federal legislation, including the Medicare Modernization
Act and the Deficit Reduction Act of 2005); changes in regulatory or
private medical guidelines and/or reimbursement practices for the
pharmaceuticals we distribute; price inflation in branded
pharmaceuticals and price deflation in generics; declines in the
amounts of market share rebates offered by pharmaceutical
manufacturers to the PharMerica Long-Term Care business, declines in
the amounts of rebates that the PharMerica Long-Term Care business can
retain, and/or the inability of the business to offset the rebate
reductions that have already occurred or any rebate reductions that
may occur in the future; any disruption to or other adverse effects
upon the PharMerica Long-Term Care business caused by the announcement
of the Company's agreement to combine the PharMerica Long-Term Care
business with the institutional pharmacy business of Kindred
Healthcare, Inc. into a new public company that will be owned 50% by
the Company's shareholders (the "PharMerica LTC Transaction"); the
inability of the Company to successfully complete the PharMerica LTC
Transaction; fluctuations in market interest rates; operational or
control issues arising from the Company's outsourcing of information
technology activities; success of integration, restructuring or
systems initiatives; fluctuations in the U.S. dollar - Canadian dollar
exchange rate and other foreign exchange rates; economic, business,
competitive and/or regulatory developments in Canada, the United
Kingdom and elsewhere outside of the United States; acquisition of
businesses that do not perform as we expect or that are difficult for
us to integrate or control; changes in tax legislation or adverse
resolution of challenges to our tax positions; and other economic,
business, competitive, legal, tax, regulatory and/or operational
factors affecting the business of the Company generally. Certain
additional factors that management believes could cause actual
outcomes and results to differ materially from those described in
forward-looking statements are set forth (i) in Item 1A (Risk Factors)
in the Company's Annual Report on Form 10-K for the fiscal year ended
September 30, 2006 and elsewhere in that report and (ii) in other
reports filed by the Company pursuant to the Securities Exchange Act
of 1934.
AMERISOURCEBERGEN CORPORATION
FINANCIAL SUMMARY
(In thousands, except per share data)
(unaudited)
Three Three
Months Ended % of Months Ended % of
March 31, Operating March 31, Operating %
2007 Revenue 2006 Revenue Change
------------ --------- ------------ --------- ------
Revenue:
Operating
revenue $15,283,761 100.00% $14,049,175 100.00% 9%
Bulk deliveries
to customer
warehouses 1,228,780 1,171,504 5%
------------ ------------
Total revenue 16,512,541 15,220,679 8%
Cost of goods sold 15,906,098 14,659,916 9%
------------ ------------
Gross profit 606,443 3.97% 560,763 3.99% 8%
Operating
expenses:
Distribution,
selling and
administrative 363,367 2.38% 339,113 2.41% 7%
Depreciation and
amortization 22,049 0.14% 20,149 0.14% 9%
Facility
consolidations,
employee
severance, and
other 135 - 3,577 0.03% -96%
------------ ------------
Operating income 220,892 1.45% 197,924 1.41% 12%
Other loss
(income) 376 - (5,826) -0.04% -106%
Interest expense,
net 9,889 0.06% 7,344 0.05% 35%
------------ ------------
Income from
continuing
operations before
income taxes 210,627 1.38% 196,406 1.40% 7%
Income taxes 81,131 0.53% 67,816 0.48% 20%
------------ ------------
Income from
continuing
operations 129,496 0.85% 128,590 0.92% 1%
Income from
discontinued
operations, net
of tax - (411)
------------ ------------
Net income $129,496 0.85% $129,001 0.92% -
============ ============
Earnings per
share:
Basic
Continuing
operations $0.69 $0.62 11%
Discontinued
operations - -
------------ ------------
Net income $0.69 $0.62 11%
============ ============
Diluted
Continuing
operations $0.68 $0.61 11%
Discontinued
operations - -
------------ ------------
Net income $0.68 $0.61 11%
============ ============
Weighted average
common shares
outstanding:
Basic 188,772 208,050
Diluted 191,797 210,771
AMERISOURCEBERGEN CORPORATION
FINANCIAL SUMMARY
(In thousands, except per share data)
(unaudited)
Six Six
Months Ended % of Months Ended % of
March 31, Operating March 31, Operating %
2007 Revenue 2006 Revenue Change
------------ --------- ------------ --------- ------
Revenue:
Operating
revenue $30,980,300 100.00% $27,585,029 100.00% 12%
Bulk deliveries
to customer
warehouses 2,257,634 2,288,797 -1%
------------ ------------
Total revenue 33,237,934 29,873,826 11%
Cost of goods sold 32,036,848 28,784,685 11%
------------ ------------
Gross profit 1,201,086 3.88% 1,089,141 3.95% 10%
Operating
expenses:
Distribution,
selling and
administrative 720,328 2.33% 670,972 2.43% 7%
Depreciation and
amortization 44,849 0.14% 41,236 0.15% 9%
Facility
consolidations,
employee
severance, and
other 6,158 0.02% 12,404 0.04% -50%
------------ ------------
Operating income 429,751 1.39% 364,529 1.32% 18%
Other loss
(income) 442 - (5,043) -0.02% -109%
Interest expense,
net 18,032 0.06% 13,856 0.05% 30%
------------ ------------
Income from
continuing
operations before
income taxes 411,277 1.33% 355,716 1.29% 16%
Income taxes 159,594 0.52% 129,150 0.47% 24%
------------ ------------
Income from
continuing
operations 251,683 0.81% 226,566 0.82% 11%
Loss from
discontinued
operations, net
of tax - 298
------------ ------------
Net income $251,683 0.81% $226,268 0.82% 11%
============ ============
Earnings per
share:
Basic
Continuing
operations $1.32 $1.09 21%
Discontinued
operations - -
------------ ------------
Net income $1.32 $1.09 21%
============ ============
Diluted
Continuing
operations $1.30 $1.08 20%
Discontinued
operations - -
Rounding - (0.01)
------------ ------------
Net income $1.30 $1.07 21%
============ ============
Weighted average
common shares
outstanding:
Basic 190,607 208,160
Diluted 193,409 210,570
AMERISOURCEBERGEN CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
(unaudited)
ASSETS
March 31, September 30,
2007 2006
------------- -------------
Current assets:
Cash and cash equivalents $778,382 $1,261,268
Short-term investment securities
available-for-sale 830,455 67,840
Accounts receivable, net 3,633,713 3,427,139
Merchandise inventories 4,602,195 4,422,055
Prepaid expenses and other 30,065 32,105
------------- -------------
Total current assets 9,874,810 9,210,407
Property and equipment, net 525,572 509,746
Other long-term assets 3,186,390 3,063,767
------------- -------------
Total assets $13,586,772 $12,783,920
============= =============
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $7,301,994 $6,499,264
Current portion of long-term debt 833 1,560
Other current liabilities 888,116 958,364
------------- -------------
Total current liabilities 8,190,943 7,459,188
Long-term debt, less current portion 1,199,138 1,093,931
Other long-term liabilities 102,007 89,644
Stockholders' equity 4,094,684 4,141,157
------------- -------------
Total liabilities and stockholders'
equity $13,586,772 $12,783,920
============= =============
AMERISOURCEBERGEN CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
Six Six
Months Ended Months Ended
March 31, March 31,
2007 2006
------------- -------------
Operating Activities:
Net income $251,683 $226,268
Adjustments to reconcile net income to
net cash provided by operating
activities 106,168 106,437
Changes in operating assets and
liabilities 352,956 369,933
------------- -------------
Net cash provided by operating activities 710,807 702,638
------------- -------------
Investing Activities:
Capital expenditures (57,397) (60,149)
Cost of acquired companies, net of
cash acquired (144,649) (238,427)
Proceeds from sales of property and
equipment 4,103 2,199
Proceeds from sale-leaseback
transactions - 28,143
Proceeds from sale of equity
investment and eminent domain
settlement - 7,582
Net short-term investment activity (762,615) (515,987)
------------- -------------
Net cash used in investing activities (960,558) (776,639)
------------- -------------
Financing Activities:
Net borrowings 107,802 124,916
Deferred financing costs and other (1,920) (992)
Purchases of common stock (396,193) (132,226)
Exercises of stock options 77,290 97,804
Cash dividends on common stock (19,193) (10,464)
Purchases of common stock for employee
stock purchase plan (921) (1,037)
------------- -------------
Net cash (used in) provided by financing
activities (233,135) 78,001
------------- -------------
(Decrease) increase in cash and cash
equivalents (482,886) 4,000
Cash and cash equivalents at beginning of
period 1,261,268 966,553
------------- -------------
Cash and cash equivalents at end of
period $778,382 $970,553
============= =============
AMERISOURCEBERGEN CORPORATION
SUMMARY SEGMENT INFORMATION
(dollars in thousands)
(unaudited)
Three Months Ended March 31,
--------------------------------------
Operating Revenue 2007 2006 % Change
------------------------------- --------------------------------------
Pharmaceutical Distribution $15,084,048 $13,877,560 9%
PharMerica 431,360 412,685 5%
Intersegment eliminations (231,647) (241,070) -4%
------------ ------------
Operating revenue $15,283,761 $14,049,175 9%
============ ============
Three Months Ended March 31,
--------------------------------------
Operating Income 2007 2006 % Change
------------------------------- --------------------------------------
Pharmaceutical Distribution $203,910 $175,951 16%
PharMerica 15,364 16,171 -5%
Facility consolidations,
employee severance, and other (135) (3,577) -96%
Gain on antitrust litigation
settlements 1,753 9,379 -81%
------------ ------------
Operating income $220,892 $197,924 12%
============ ============
Percentages of operating
revenue:
Pharmaceutical Distribution
Gross profit 3.23% 3.16%
Operating expenses 1.87% 1.89%
Operating income 1.35% 1.27%
PharMerica
Gross profit 27.37% 27.48%
Operating expenses 23.81% 23.56%
Operating income 3.56% 3.92%
AmerisourceBergen Corporation
Gross profit 3.97% 3.99%
Operating expenses 2.52% 2.58%
Operating income 1.45% 1.41%
AMERISOURCEBERGEN CORPORATION
SUMMARY SEGMENT INFORMATION
(dollars in thousands)
(unaudited)
Six Months Ended March 31,
--------------------------------------
Operating Revenue 2007 2006 % Change
------------------------------- --------------------------------------
Pharmaceutical Distribution $30,577,171 $27,225,713 12%
PharMerica 867,245 821,943 6%
Intersegment eliminations (464,116) (462,627) -
------------ ------------
Operating revenue $30,980,300 $27,585,029 12%
============ ============
Six Months Ended March 31,
--------------------------------------
Operating Income 2007 2006 % Change
------------------------------- --------------------------------------
Pharmaceutical Distribution $398,043 $314,827 26%
PharMerica 34,223 34,678 -1%
Facility consolidations,
employee severance, and other (6,158) (12,404) -50%
Gain on antitrust litigation
settlements 3,643 27,428 -87%
------------ ------------
Operating income $429,751 $364,529 18%
============ ============
Percentages of operating
revenue:
Pharmaceutical Distribution
Gross profit 3.13% 3.07%
Operating expenses 1.83% 1.91%
Operating income 1.30% 1.16%
PharMerica
Gross profit 27.77% 27.64%
Operating expenses 23.83% 23.42%
Operating income 3.95% 4.22%
AmerisourceBergen Corporation
Gross profit 3.88% 3.95%
Operating expenses 2.49% 2.63%
Operating income 1.39% 1.32%
AMERISOURCEBERGEN CORPORATION
EARNINGS PER SHARE
(In thousands, except per share data)
(unaudited)
Basic earnings per share is computed on the basis of the weighted
average number of shares of common stock outstanding during the
periods presented. Diluted earnings per share is computed on the
basis of the weighted average number of shares of common stock
outstanding during the periods presented plus the dilutive effect of
stock options and restricted stock.
Three Months Ended Six Months Ended
March 31, March 31,
2007 2006 2007 2006
---------- ---------- ---------- ----------
Income from continuing
operations $129,496 $128,590 $251,683 $226,566
========== ========== ========== ==========
Weighted average common
shares outstanding -
basic 188,772 208,050 190,607 208,160
Effect of dilutive
securities - stock
options and restricted
stock 3,025 2,721 2,802 2,410
---------- ---------- ---------- ----------
Weighted average common
shares outstanding -
diluted 191,797 210,771 193,409 210,570
========== ========== ========== ==========
Earnings per share:
Basic
Continuing
operations $0.69 $0.62 $1.32 $1.09
Discontinued
operations - - - -
---------- ---------- ---------- ----------
Net income $0.69 $0.62 $1.32 $1.09
========== ========== ========== ==========
Diluted
Continuing
operations $0.68 $0.61 $1.30 $1.08
Discontinued
operations - - - -
Rounding - - - (0.01)
---------- ---------- ---------- ----------
Net income $0.68 $0.61 $1.30 $1.07
========== ========== ========== ==========
CONTACT: AmerisourceBergen Corporation, Valley Forge
Michael N. Kilpatric, 610-727-7118
mkilpatric@amerisourcebergen.com
SOURCE: AmerisourceBergen Corporation