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Article: Cardinal begins fiscal year with strong growth.(Cardinal Health Inc., Medicine Shoppe International Inc.)(Brief Article)(Statistical Data Included)
- Article from:
- Chain Drug Review
- Article date:
- December 11, 2000
CopyrightCOPYRIGHT 2000 Racher Press, Inc. 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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DUBLIN, Ohio -- Packing up from where it left off in fiscal 2000, Cardinal Health Inc. began the current year with strong growth in earnings and revenues.
Net income for the three months ended September 30 climbed 42% to $173.2 million from $122 million a year ago on a 28.8% increase in total revenues to $8.73 billion from $6.78 billion. Operating revenues for the drug wholesaler and parent of Medicine Shoppe International (MSI) grew 19.8% to $6.98 billion, while bulk deliveries to customers' warehouses jumped 83.5% to $1.75 billion.
Earnings reflect merger-related costs, amounting to $17.3 million ($11 million, after taxes) in the fiscal 2001 quarter ...