McKESSON REPORTS FISCAL 2013 THIRD-QUARTER RESULTS
McKESSON REPORTS FISCAL 2013 THIRD-QUARTER RESULTS
• Revenues of $31.2 billion for the third quarter, up 1%.
• Third-quarter GAAP earnings per diluted share of $1.24, up 3%.
• Third-quarter Adjusted Earnings per diluted share of $1.41, up 1%.
• Board of Directors authorized an additional $500 million share repurchase
program.
• Fiscal 2013 Outlook: Adjusted Earnings per diluted share of $7.10 to $7.30.
SAN FRANCISCO, January 31, 2013 – McKesson Corporation (NYSE: MCK) today reported that revenues for the third quarter ended December 31, 2012 were $31.2 billion, up 1% compared to $30.8 billion a year ago. On the basis of U.S. generally accepted accounting principles (“GAAP”), third-quarter earnings per diluted share was $1.24 compared to $1.20 a year ago.
Third-quarter Adjusted Earnings per diluted share was $1.41, up 1% compared to $1.40 a year ago.
For the first nine months of the fiscal year, McKesson generated cash from operations of $276 million, and ended the quarter with cash and cash equivalents of $2.7 billion. During the first nine months of the fiscal year, the company paid $147 million in dividends, had internal capital spending of $268 million and spent $577 million on acquisitions. The company also repurchased $360 million of its common stock during the third quarter.
Distribution Solutions revenues were up 1% in the third quarter, driven mainly by growth in our U.S. pharmaceutical direct distribution and services business and growth in our Medical-Surgical distribution business.
Canadian revenues, on a constant currency basis, increased 3% for the third quarter. Including the favorable currency impact of 3%, Canadian revenues increased 6% for the third quarter.