Omnicare Inc. (OCR: Quote) reported that its fourth-quarter net income rose to $59.02 million or $0.54 per share, from $31.18 million or $0.27 per share in the same quarter last year.
Adjusted cash earnings per share from continuing operations for the quarter increased to $0.86 from $0.78 last year.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.85 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter declined to $1.53 billion from $1.58 billion in the prior year quarter. Eight analysts had consensus revenue estimate of $1.51 billion for the quarter.
For fiscal 2013, the company expects adjusted cash earnings per share, excluding special items, to be in the range of $3.47 to $3.57, and revenue of $6.1 billion to $6.2 billion. Analysts expect the company to report earnings of $3.53 per share on revenues of $6.22 billion for fiscal 2013.
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by RTT Staff Writer
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