AmerisourceBergen Earnings: Snaps Cold Streak with Profit Growth

Falling revenue did not prevent S&P 500 (NYSE:SPY) component AmerisourceBergen Corporation (NYSE:ABC) from reporting a profit boost in the fourth quarter. AmerisourceBergen is a pharmaceutical services company providing drug distribution and related healthcare services to pharmacy, physician, and manufacturer customers based in North America.

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AmerisourceBergen Corporation Earnings Cheat Sheet

Results: Net income for AmerisourceBergen Corporation rose to $163.5 million (66 cents per share) vs. $147.3 million (54 cents per share) in the same quarter a year earlier. This marks a rise of 11% from the year-earlier quarter.

Revenue: Fell 4.4% to $19.45 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: AmerisourceBergen Corporation fell short of the mean analyst estimate of 68 cents per share. It fell short of the average revenue estimate of $20.36 billion.

Quoting Management: “Solid results across all of our business units and contributions from our recent acquisitions drove strong performance in the September quarter and in our full fiscal year 2012,” said Steven H. Collis, AmerisourceBergen President and Chief Executive Officer. “Outstanding performance in AmerisourceBergen Drug Corporation (ABDC), particularly in generic pharmaceuticals, helped overcome a difficult comparison to the prior year and drove operating income growth and margin expansion.”

Key Stats:

The profit increase last quarter ends a two-quarter streak of year-over-year profit decreases. Net income fell 1.7% in the third quarter and in the second quarter.

The company fell short of estimates last quarter after beating the mark the quarter before with net income of 72 cents versus a mean estimate of net income of 69 cents per share.

Looking Forward: For the next quarter, analysts are growing pessimistic about the company’s expected results. The average estimate for the first quarter of the next fiscal year is 69 cents per share, dropping from 70 cents a month ago. Over the past sixty days, the average estimate for the fiscal year has reached $2.83 per share, a decline from $2.84.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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