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Last $27.73 USD
Change Today -0.14 / -0.50%
Volume 135.2K
As of 8:04 PM 04/17/15 All times are local (Market data is delayed by at least 15 minutes).

pharmerica corp (PMC) Key Developments

PharMerica Signs Wholesale Drug Distribution Agreement with Cardinal Health, Effective April 1, 2015

PharMerica Corporation has signed a new wholesale drug distribution agreement with Cardinal Health, Inc. The new agreement will take effect on April 1, 2015 and extend through June 2018. As part of the agreement, Cardinal Health will assume responsibility for the sourcing and distribution of branded and generic pharmaceuticals for PharMerica.

PharMerica Corporation Announces Wholesale Drug Distribution Agreement with Cardinal Health, Inc

PharMerica Corporation announced that it has entered into a new wholesale drug distribution agreement with Cardinal Health, Inc. The new agreement will take effect on April 1, 2015 and extend through June 2018. As part of the agreement, Cardinal Health will assume responsibility for the sourcing and distribution of branded and generic pharmaceuticals for PharMerica.

Pharmerica Corporation Reports Consolidated Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter and Full Year of Fiscal 2015

PharMerica Corporation reported consolidated unaudited earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported revenues of $523.5 million compared with $450.5 million a year ago. Operating income was $12.7 million compared to $13.9 million a year ago. Income before income taxes was $9.7 million compared to $11.4 million a year ago. Net income was $3.2 million compared to $4.4 million a year ago. Diluted earnings per share were $0.10 compared to $0.15 a year ago. Net cash provided by operating activities was $50.8 million compared to $3.7 million a year ago. Purchase of equipment and leasehold improvements was $6.6 million against $6.4 million a year ago. Adjusted EBITDA was $37.3 million compared to $30.6 million a year ago. Adjusted diluted earnings per share were $0.45 compared to $0.44 a year ago. The strong revenue increase was primarily attributable to acquisitions completed in the third and fourth quarters of 2014. The quarterly sequential improvement in cash provided by operating activities was driven by an improvement in net working capital. For the year, the company reported revenues of $1,894.5 million compared to $1,757.9 million a year ago. Operating income was $30.4 million compared to $55.8 million a year ago. Income before income taxes was $16.2 million compared to $45.2 million a year ago. Net income was $6.8 million compared to $18.9 million a year ago. Diluted earnings per share were $0.22 compared to $0.63 a year ago. Net cash provided by operating activities was $48.4 million compared to $155.7 million a year ago. Purchase of equipment and leasehold improvements was $25.6 million against $27.3 million a year ago. Adjusted EBITDA was $130.6 million compared to $132.8 million a year ago. Adjusted diluted earnings per share were $1.67 compared to $1.83 a year ago. The company provided earnings guidance for the full year of fiscal 2015. For the year, the company expects revenue in the range of $1.950 billion to $2.050 billion, adjusted diluted earnings per share in the range of $1.55 to $1.65 and adjusted EBITDA in the range of $137 million to $142 million. The tax rate incorporated into 2015 guidance is 37%. For the first quarter of 2015, the company expects the adjusted diluted earnings per share range of 2015 is $0.42 to $0.45 per share.

PharMerica Seeks Acquisitions

PharMerica Corporation (NYSE:PMC) is looking for acquisition opportunities. Greg Weishar, Chief Executive Officer of PharMerica said, "Looking ahead to 2015 and beyond, we will remain disciplined and opportunistic in pursuing complementary acquisitions. We have set an acquisition goal of $100 million in annualized revenues. We are confident that we will meet or exceed the goal of $400 million in specialty pharmacy revenues by 2016."

PharMerica Corporation to Report Q4, 2014 Results on Mar 02, 2015

PharMerica Corporation announced that they will report Q4, 2014 results at 9:00 AM, Eastern Standard Time on Mar 02, 2015

 

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