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Article: CVS Corporation Reports Record Sales and First Quarter Earnings; Net Earnings Increased 13.8%, While Diluted EPS Rose to $0.39.
- Article from:
- Business Wire
- Article date:
- May 4, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WOONSOCKET, R.I. -- CVS Corporation (NYSE: CVS), today announced record sales and earnings for the first quarter ended April 1, 2006.
Net earnings increased 13.8% to $329.6 million or $0.39 per diluted share, compared with net earnings of $289.7 million or $0.34 per diluted share in the first quarter of 2005.
"First quarter results were driven by strong sales growth and healthy margins," stated Tom Ryan, Chairman, President, and Chief Executive Officer of CVS Corporation. "A favorable product mix, both in the front store and the pharmacy, drove our improved margin performance.
"We achieved solid sales performance and share gains in the front ...