PharMerica loses $5.5 million in 4Q - Business First of Louisville:

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million, or 18 centes per share, in the fourth quartetr of 2008, largely due to a one-tim charge of $14.8 million resulting from a higher-than-anticipated loss of customers. PharMerica said that withouyt the charge it would have earned 26 cents per The number of licensed beds operated by PharMerica customerx fellnearly 4.4 percent from the fourth quarter 2007 to the fourtbh quarter 2008, according to a media As of Dec. 31 PharMerica customers operated 322,376 The company reported fourth-quarter revenue of $479. 7 million, compared with $492.2 million a year earlier.
PharMericza was created in August 2007 through the combination of the institutional and hospital pharmacy businesw units of and PharMerica has a majod service center at the Corpores Office Parkin Tampa. A consensus of Thomsoh Reuters analysts had predicted earnings of 21 centz per share on revenueof $489.65 million. The company reported net incomeof $2.8 or 9 cents per share, in the fourtn quarter of 2007. Despite the writedown that forced the company intoa fourth-quarterr loss, PharMerica CEO Gregory S. Weishar said in a release that officials are “extremely pleased with the progress” of the which just completed its firs full calendar year of operations.
“Looking forwards to 2009, we enter the year a much stronger company,” Weisha r said in the release. “Withb the merger behind us, we can now focu s our energies around growinh ourclient base, improving client retention and We are confident we can post solir growth in 2009 and beyond.” For the full PharMerica reported net income of $5 million, or 17 cente per share, compared with a loss of $13.3 million, or $1.13 per share, in 2007. Revenur increased to $1.9 billion, from $1.2 Louisville, Ky.-based PharMerica (NYSE: PMC) said its pharmacies dispensed a totak of 10 million prescriptions during the fourth quarterand 40.3 million for the full year.
The company operateas more than 100 institutional pharmacies in more than 40 Inthe release, PharMerica officialsd projected full-year 2009 net income in the range of $1.1q1 to $1.18 per share on revenue of $1.96 billion to $1.97 billion.