April 30, 1999 |
McKesson HBOC Inc., whose share price dropped 47% Wednesday after it announced accounting problems in its software unit, said Thursday it hopes to complete an audit and corrections by mid-June. McKesson, the largest U.S. drug wholesaler, wants the audit by outside accountants, Deloitte & Touche, to be completed in time to mail the results to shareholders with its proxy statement, spokesman Larry Kurtz said. McKesson on Wednesday restated earnings, reducing fiscal 1999 profit by 4.4%.
October 25, 2000 |
PG&E Corp., owner of California's largest utility, said third-quarter earnings rose a better-than-expected 26% as it sold more electricity across the U.S. and shed unprofitable businesses. Profit from continuing operations increased to $248 million, or 68 cents a share, from $197 million, or 53 cents, a year earlier, as sales rose 21% to $7.5 billion. The average estimate of analysts surveyed by First Call/Thomson Financial was 60 cents.
January 27, 1999 |
McKesson HBOC Inc. shares fell 9% amid concern about sales of the No. 1 drug wholesaler's newly acquired medical software unit, HBO & Co. after the company released earnings late Monday. McKesson fell $7.63 to close at $74.39 on the NYSE. Earlier, shares fell as low as $72.50. While San Francisco-based McKesson's fiscal third-quarter earnings matched analysts' estimates, investors were concerned that HBO's revenue fell short of expectations.
April 29, 1999 |
Pharmaceutical supply giant McKesson HBOC Inc. stunned investors Wednesday by revising downward its latest quarterly earnings and projecting lower profit through early 2000. The company's stock plummeted nearly 50%, losing $31.25 to close at $34.50 on the New York Stock Exchange. San Francisco-based McKesson, which acquired health-care information management firm HBO & Co.
July 15, 1999 |
McKesson HBOC Inc., the largest U.S. drug wholesaler, said Wednesday that it will lower its fiscal 1999 earnings by $152.2 million, or 53 cents a share, as it fixes accounting improprieties at its software unit that caused its stock to lose more than half its value since January. San Francisco-based McKesson said the problems at its HBOC software unit caused it to slash $327.4 million off revenue for three fiscal years. It cut earnings for fiscal 1998 by $25.
January 29, 1999 |
Bergen Brunswig Corp., said Thursday that it has won a seven-year contract valued at $6.3 billion to be the sole supplier of drugs, health and beauty aids, and over-the-counter medical products to Longs Drug Stores Corp., the sixth largest drug store operator in the United States. The contract is currently split between Bergen and No. 1 U.S. wholesaler McKesson HBOC Inc. Bergen said about 50% of the $900 million annual revenue will be new business. Orange-based Bergen, the third largest U.S.