McKesson Corp. (MCK) reported net income for the fourth quarter of $259 million or $1.10 per share, compared to $521 million or $2.09 per share for the year-ago quarter.
Adjusted net income for the latest quarter was $343 million or $1.45 per share.
The latest quarter reported and adjusted earnings per share includes $0.76 in impairment charges and $0.11 in severance and facility exit costs, the company said.
Revenues for the fourth quarter fell 3% to $30.62 billion from $31.70 billion a year ago.
Analysts polled by Thomson Reuters expected the company to earn $2.30 per share on revenue of $32.01 billion for the fourth quarter. Analysts' estimate typically exclude special items.
Looking forward, McKesson forecasts adjusted earnings per share from continuing operations between $7.90 and $8.20 for the fiscal year ending March 31, 2014. Analysts currently expect the company to earn $7.21 per share for the fiscal year 2014.
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