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BERGEN BRUNSWIG REVENUES CLIMB 20% TO $1.3 BIL. IN QUARTER; EARNINGS FLAT

Executive Summary

Bergen Brunswig revenues from continuing operations grew 20% to $1.3 bil. in the company's fiscal third quarter ended May 31. Through nine months, revenues were up 16% to $3.7 bil., the wholesaler said June 12. Earnings, however, were flat for the quarter at $17.2 mil. and down 11% to $38.1 mil. for the nine months. "Results for the third quarter were in line with the company's objectives despite lower price increases on pharmaceuticals and a lower overall gross profit margin rate than in prior year periods," CEO Robert Martini said. "We continue to meet the challenge of decreased forward buying opportunities and continuing lower margins through the reduction of general operating expenses and the ongoing consolidation into regional distribution centers." Bergen's margins on sales climbed from 9.3% to 9.4% for both the quarter and the nine months.
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