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EARNINGS ROUNDUP / McKESSON

Drug distributor's profit climbs 32%

October 29, 2008|Times Wire Reports

McKesson Corp., the biggest U.S. drug distributor, said fiscal second-quarter profit increased 32% on higher sales of medicines and healthcare information systems.

Net income climbed to $327 million, or $1.17 a share, from $247 million, or 83 cents, a year earlier, San Francisco-based McKesson said. It attributed earnings of 27 cents a share to the release of a $76-million tax reserve. Earnings excluding special items missed analysts' estimates.

Revenue for the three months ended Sept. 30 increased 8.7% to $26.6 billion.

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