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Earnings Roundup

Longs earnings jump in quarter

August 21, 2008|From Times Wire Services

Longs Drug Stores Corp., which has agreed to be bought by CVS Caremark Corp., said fiscal second-quarter profit rose on gains at its pharmacy-benefits division.

Net income for the period that ended July 31 jumped to $27.5 million, or 76 cents a share, from $26.6 million, or 71 cents, a year earlier, Longs said. Sales increased to $1.33 billion from $1.27 billion.

Shares of Longs, which is based in Walnut Creek, Calif., gained 50 cents to $72.10.

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