AmerisourceBergen Q4 revenue up 29.1%
VALLEY FORGE, Pa. — AmerisourceBergen on Thursday reported that in its fiscal year 2014 fourth quarter ended Sept. 30 revenue increased 29.1% to $31.6 billion in the quarter.
“We delivered exceptional performance in our September quarter, completing a very strong year driven by the onboarding of substantial new business, and outstanding operational and financial results,” said Steven Collis, AmerisourceBergen president and CEO. “We generated excellent free cash flow, improved our balance sheet and returned funds to shareholders. Over the course of the full year, we made important progress on our strategic objectives by investing in our people, in our infrastructure and in assets that help expand our international presence. We enter fiscal 2015 with strong momentum and in excellent position to continue to shape healthcare delivery on an increasingly global basis.”
AmerisourceBergen Drug Corp. revenues increased 33%, due primarily to the onboarding of all of the new Walgreens-branded pharmaceuticals business and a substantial portion of their generic pharmaceuticals business, and increased branded pharmaceutical sales to other large customers. AmerisourceBergen Specialty Group revenues increased 13%, driven by strong performance in blood products, vaccine and specialty distribution businesses.
AmerisourceBergen expects adjusted diluted earnings per share from continuing operations in fiscal year 2015 to be in the range of $4.36 to $4.50, an increase of 10% to 13% over fiscal 2014. Revenue growth is expected to be in the 7% to 8% range, and adjusted operating income growth in the 8% to 10% range. Adjusted operating margin is expected to be flat to up slightly in the low single-digit basis points range. Free cash flow is expected to be in the range of $1.4 billion to $1.7 billion, with capital expenditures in the $300 million range for the full year. In addition, AmerisourceBergen expects to spend approximately $400 million in share repurchases under its regular repurchase program, and $400 million under its special repurchase program, subject to market conditions.