McKesson Sales Up 5% in 1Q - Modern Distribution Management

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McKesson Sales Up 5% in 1Q

Profit increased 7.6 percent to $424 million.
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McKesson Corp. (NYSE: MCK), San Francisco, CA, reported sales for the first quarter ended June 30, 2013, of $32.2 billion, an increase of 5 percent compared to the same period a year ago. Profit increased 7.6 percent to $424 million.

Distribution solutions revenues increased 5 percent in the first quarter, driven mainly by strong growth in U.S. pharmaceutical direct distribution and services revenues, reflecting market growth and its mix of business, as well as the acquisition of PSS World Medical Inc.

Canadian revenues, on a constant currency basis, increased 3 percent for the first quarter primarily due to market growth. Including an unfavorable currency impact of 1 percent, Canadian revenues increased 2 percent for the first quarter.

Medical-surgical distribution and services revenues were up 71 percent for the first quarter driven primarily by the acquisition of PSS. Technology solutions revenues were up 9 percent in the first quarter compared to the prior year.

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