PharMerica Q4 Profit Slides, Revenue Up - Quick Facts

(RTTNews) - PharMerica Corp. (PMC), a provider of institutional, specialty home infusion, hospital and oncology pharmacy services, Monday said fourth-quarter net income fell to $3.2 million from $4.4 million reported last year. Earnings per share declined to $0.10 from $0.15.

Adjusted earnings per share totaled $0.45, while it totaled $0.44 in the fourth quarter of 2013. On average, eight analysts polled by Thomson Reuters expected earnings of $0.43 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue increased to $523.5 million from $450.5 million in the prior year. Analysts expected revenues of $491.99 million.

The company attributed the revenue growth to the acquisition of Onco360 in December 2013, the 2014 acquisitions and strong branded drug price inflation.

Looking ahead to 2015, the company expects adjusted earnings per share in the range of $1.55 to $1.65, and revenue in the range of $1.950 billion to $2.050 billion. Analysts expect earnings of $1.64 per share for the year.