Bergen Brunswig Reports Smaller Profit

Bergen Brunswig Corp. said Tuesday that its profit dropped 4.9% for its latest fiscal year, although sales rose 16% to a record $5 billion.

The prescription-drug distributor reported earnings of $60.9 million, or $1.53 a share, for the year that ended Aug. 31. That compared to $64.1 million, or $1.44 a share, for the previous 12 months, when sales were $4.3 billion.

Its fourth-quarter profit rose to $17.7 million, or 46 cents a share, from $12.9 million, or 31 cents a share. Fourth-quarter sales rose from $1.1 billion to $1.3 billion.

The company blamed the lower annual earnings on the recession and competitive pressures. It said it is continuing to reduce its expenses to boost profits.

Bergen recently agreed to buy competitor Durr-Fillauer Medical Inc. for $470 million after the Alabama company gave up its initial opposition to being acquired. Bergen would not say Tuesday how much the protracted takeover battle had cost it in legal and consulting fees.

Bergen Brunswig Corp.

Bergen Brunswig closed out its fiscal year with a record $5 billion in revenue--18% more than for the previous fiscal year. Profit for the year ended Aug. 31 was down 4.9%, however, to $60.9 million.

Figures are in thousands except per-share data

4th qtr 4th qtr 12 months 12 months 1991 1992 1991 1992 Revenue $1,111,461 $1,340,871 $4,295,397 $5,048,309 Net income (loss) 12,930 17,740 64,137 60,864 Per share (loss) 0.31 0.46 1.44 1.53

Source: Bergen Brunswig Corp.