Thursday, February 13, 2003

Omnicare profits boom for 4th quarter and 2002



The Cincinnati Enquirer

Covington-based institutional pharmacy management company Omnicare Inc. Wednesday reported a 66 percent jump in profits for the fourth quarter 2002 compared with the same period in 2001.

Omnicare also said net profits for all of 2002 were up 69.5 percent compared with 2001.

The profits were $38.7 million in the fourth quarter and $125.9 million for 2002, compared with $23.3 million and $74.3 million for the same periods in 2001.

The quarterly profits were a result of an 18.8 percent jump in sales - $670 million in the fourth quarter of 2002 compared with $564.2 million during the same period the previous year. Total sales for all of 2002 were $2.6 billion, compared with almost $2.2 billion for 2001.

Shares in Omnicare closed at $23.46, down $1.14.



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