McKesson raises fiscal 2010 profit forecast range
McKesson boosts outlook for year ending March 31 after 2Q results topped Wall Street estimates
- On 6:38 pm EDT, Tuesday October 27, 2009
SAN FRANCISCO (AP) -- Drug distributor McKesson Corp. raised its fiscal 2010 profit forecast Tuesday after reporting second-quarter results that were better than analysts expected.
The company said it now anticipates a profit of $4.45 to $4.60 per share for the year ending March 31, 2010. That was up from a forecast of $4.15 and $4.30 per share in July. Thomson Reuters says analysts were expecting $4.29 per share on average.
McKesson's estimate excludes an adjustment to its litigation reserves. That adjustment added $20 million to its profit in the fiscal second quarter.
In aftermarket trading, McKesson shares rose 38 cents to $60. The stock fell 80 cents to close at $59.62 in the regular session.
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