Bergen Reports Record Earnings

Bergen Brunswig Corp. said Monday that earnings and revenue hit records for the fiscal year and fourth quarter ended Sept. 30.

The pharmaceutical and medical-surgical supplier said net income totaled $81.7 million, or $1.61 a share, up 11% from the $73.5 million, or $1.46 a share, for the previous year. The earnings for the recent year included a one-time charge of $3.4 million for costs related to termination of the company’s proposed merger with Ivax Corp. Revenue grew 18% to $11.7 billion from $9.9 billion.

Fourth-quarter net income totaled $20.8 million, or 41 cents a share, 14% higher than the $18.3 million, or 36 cents a share, posted a year ago. Revenue gained 15% to $3 billion from $2.6 billion.

The results were bolstered by growth in Bergen Brunswig’s core distribution business, the company said. Bergen Brunswig Drug Co., the largest subsidiary, posted a 17% increase in sales in its retail and health systems areas, the company said.