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AmerisourceBergen Corporation Message Board

  • futureripplemovers futureripplemovers Jan 23, 2014 9:33 AM Flag

    AmerisourceBergen Reports First Quarter Fiscal Year 2014 Results

    AmerisourceBergen Reports First Quarter Fiscal Year 2014 Results

    Reiterates Expectations for Fiscal 2014 Adjusted Diluted EPS from Continuing Operations to be in the range of $3.60 to $3.73

    VALLEY FORGE, Pa.--(BUSINESS WIRE)--Jan. 23, 2014-- AmerisourceBergen Corporation (NYSE:ABC) today reported that in its fiscal year 2014 first quarter ended December 31, 2013, adjusted diluted earnings per share from continuing operations increased 9.6 percent to $0.80. Revenue increased 38.5 percent to $29.2 billion in the quarter. On the basis of U.S. generally accepted accounting principles (GAAP), diluted earnings per share from continuing operations were $0.21 for the December quarter of fiscal 2014. In the tables that follow, we present our GAAP results as well as a reconciliation of GAAP income from continuing operations to adjusted non-GAAP income from continuing operations.

    “In our December quarter, we delivered solid results as we onboarded substantial new business,” said Steven H. Collis, AmerisourceBergen President and Chief Executive Officer. “We performed well operationally, made meaningful progress through a significant working capital transition, and positioned ourselves well to meet our objectives for the fiscal year.”

    The comments below compare adjusted results from continuing operations, which exclude:
    1. Gains from antitrust litigation settlements;
    2. LIFO expense;
    3. Acquisition related expenses and intangibles amortization;
    4. Warrant expense; and
    5. Special employee severance, litigation, and other expenses.

    In addition, we calculate our adjusted earnings per share for each period using a diluted weighted average share count, which excludes the accounting dilution resulting from the impact of the unexercised equity warrants.

    Summary of Adjusted Quarterly Results
    1. Revenue: In the first quarter of fiscal 2014, revenue was $29.2 billion, up 38.5 percent compared to the same quarter in the previous fiscal year, reflecting a 46 perc

87.21-1.18(-1.33%)11:00 AMEDT