AmerisourceBergen Corporation (NYSE:ABC) today reported that in its fiscal year 2009 fourth quarter ended September 30, 2009, diluted earnings per share were $0.44, a 22 percent increase, and revenue increased 9 percent to a record $18.7 billion. Earnings per share and other share-related data reflect the Company’s June 2009 two-for-one stock split.
Fiscal Fourth Quarter Highlights
- Diluted earnings per share from continuing operations of $0.44, a 22 percent increase.
- Record revenue of $18.7 billion, up 9 percent.
- Operating income of $224.6 million, up 11 percent.
- Operating margin of 1.20 percent, up 2 basis points.
- Share repurchases of $176.5 million, above expectations.
Fiscal Year 2009 Highlights
- Record diluted earnings per share from continuing operations of $1.69, a 17 percent increase.
- Record revenue of $71.8 billion, up 2 percent.
- Record operating income of $883.7 million, up 7 percent.
- Operating margin of 1.23 percent, up 5 basis points.
- Cash flows from operations of $783.8 million, up 6 percent.
- Share repurchases of $450.4 million, above expectations.
“Our outstanding results in the September quarter were driven by strong revenue growth, including continued above-market sales growth in generic drugs; excellent performance by our higher-margin specialty distribution and services business; expense discipline that held our dollar expense below the previous year’s fourth quarter; and great working capital management,” said R. David Yost, AmerisourceBergen’s President and Chief Executive Officer. “For fiscal year 2009, we again delivered on our consistent formula: revenue growth; operating margin expansion through generics, the specialty business, and operational excellence; and strong cash generation. Our balance sheet remains strong, and we have good financial flexibility.”
“We have great positive momentum going into the new fiscal year,” he continued, “and in fiscal year 2010, we expect to achieve diluted earnings per share in the range of $1.82 to $1.92, an 8 percent to 14 percent increase over diluted earnings per share from continuing operations in fiscal 2009.”
Summary of Quarterly Results