Decision to Call Off Merger Leaves Bergen Income Flat

Bergen Brunswig Corp. on Tuesday reported flat earnings for the second fiscal quarter, which included a charge from the company’s decision last month to call off its $1.6-billion merger with Ivax Corp.

The maker of pharmaceuticals and medical-surgical products said net income for the quarter ended March 31 totaled $20.5 million, or 51 cents a share, which included pretax expenses of $5.8 million related to the scrapped Ivax deal. Bergen said it will seek recovery of the expenses as part of its pending litigation. A year ago, the company posted net income of $20.4 million, or 51 cents a share. Revenue increased 16% to a record $2.9 billion from $2.5 billion.

For the six months, net income rose 8% to $38.7 million, or 96 cents a share, from $36 million, or 90 cents a share, for the first half of the prior fiscal year. Revenue gained 19% to $5.7 billion from $4.8 billion.