Bergen Brunswig’s Sales Are Up but Earnings Are Down

Bergen Brunswig Corp., a distributor of prescription drugs and recorded videocassettes, reported lower earnings but higher sales for its latest quarter.

Revenue for the third quarter ended May 31 increased 9% to $1.24 billion, up from $1.14 billion a year earlier. Earnings declined 4% to $17.1 million from $17.8 million (including a one-time gain of $3.5 million) a year earlier.

The company’s pharmaceutical sales increased 12% during the latest quarter, but that was a smaller increase than expected, company President Robert E. Martini said.

Commtron Corp., Bergen Brunswig’s 79%-owned video distribution subsidiary, reported a decrease in revenue, to $126.3 million from $144.4 million during the year-earlier period.

Operating earnings dropped sharply to $1.2 million from $2.8 million.

For the nine-month period, Bergen Brunswig earned $51.2 million on revenue of $3.6 billion. That compares to earnings of $48.1 million on revenue of $3.3 billion in the corresponding period a year earlier.

Bergen Brunswig’s Performance

In the third quarter ended May 31, Bergen Brunswig Corp. reported earnings of $17.1 million on revenues of $1.24 billion. Net income declined 3.9% from the year-ago quarter.

Figures are in millions, except per share.

3rd Qtr 3rd Qtr 9 Months 9 Months 1991 1990 1991 1990 Revenue $1,242 $1,142 $3,586 $3,318 Net income (loss) $17.1 $17.8 $51.2 $51.5 Per share (loss) $0.48 $0.57 $1.41 $1.43

Source: Bergen Brunswig Corp.