PharMerica Reports Results for the First Quarter of 2012
5/3/2012 10:23:12 AM
LOUISVILLE, Ky.--(BUSINESS WIRE)--PharMerica Corporation (NYSE: PMC), a national provider of institutional pharmacy and hospital pharmacy management services, today reported its financial results for the first quarter of 2012. Commenting on the Company’s results, Gregory S. Weishar, PharMerica Corporation’s Chief Executive Officer, said, “We are pleased to announce another strong quarter, with solid financial and operational performance. Adjusted EBITDA and adjusted earnings per share increased 30% and 50%, respectively, versus the first quarter of 2011. We also saw improvement in cash flow and growth in EBITDA margins. From an operational viewpoint, we improved bed retention, and customer service levels are now better than at any time in the Company’s history. We are dispensing generics at historic levels as part of our commitment to provide customers with cost-effective pharmacy solutions to meet their needs of cost containment. Clearly, we are encouraged by the progress on the service side of the business and expect this progress to continue.