AmerisourceBergen Corp.'s (ABC) first-quarter net income increased to $151.31 million or $0.52 per share from $111.06 million or $0.36 per share a year ago. On average, 18 analysts polled by Thomson Reuters expected earnings per share of $0.46 for the quarter. Analysts' estimate typically excludes one-time items.
Revenue for the first quarter grew to $19.33 billion from $17.34 billion in the 2008 period. Fourteen analysts estimated revenues of $19.16 billion for the period.
Looking ahead to the fiscal year 2010, the company is raising its expectations for earnings per share to a range of $1.89 - $1.98 from its earlier range of $1.82 - $1.92. Twenty analysts anticipate earnings per share of $1.94 for 2010.
The Company said it currently anticipates revenue growth of between 7% and 8% and operating margin expansion in the low to mid single digit basis point range.
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