AmerisourceBergen reports 3Q loss

Published on NewsOK Modified: July 24, 2014 at 11:19 am •  Published: July 24, 2014
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CHESTERBROOK, Pa. (AP) — AmerisourceBergen Corp. (ABC) on Thursday reported a fiscal third-quarter loss after posting a profit in the same period a year earlier. The company's results topped analysts' expectations.

The Chesterbrook, Pennsylvania-based company reported a loss of $12.8 million, or 6 cents per share, compared with a profit of $168.4 million, or 71 cents per share, in the same quarter a year earlier.

Earnings, adjusted for non-recurring costs and to extinguish debt, came to $1.01 per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.

The prescription drug distributor said revenue climbed 39 percent to $30.35 billion from $21.91 billion in the same quarter a year ago, and beat Wall Street forecasts. Analysts expected $29.21 billion, according to Zacks.

AmerisourceBergen shares have increased $3.75, or 5.3 percent, to $74.06 since the beginning of the year, while the Standard & Poor's 500 index has increased 7.5 percent. The stock has risen $17.29, or 30 percent, in the last 12 months.

This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full ABC report: http://www.zacks.com/ap/ABC

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Keywords:AmerisourceBergen,Earnings Report