McKesson Q3 Profit Plunges; Cuts FY14 EPS View - Quick Facts

(RTTNews) - Healthcare services and information technology company McKesson Corp. (MCK) reported that its third-quarter net income was $64 million or $0.28 per share, compared to $298 million or $1.24 per share last year.

Third-quarter Adjusted Earnings per share from continuing operations were $1.45, up from $1.44 a year ago. Analysts polled by Thomson Reuters expected the company to report earnings of $1.84 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly revenues were $34.31 billion, up 10% from $31.10 billion a year ago. Thirteen analysts had consensus revenue estimate of $33.57 billion for the quarter.

The company now expects adjusted earnings per share from continuing operations to be in the range of $8.05 to $8.20 for the fiscal year ending March 31, 2014. Earlier, the company expected fiscal 2014 adjusted earnings per share from continuing operations to be $8.40 to $8.70. Analysts expect the company to report earnings of $8.63 per share for fiscal 2014.