BUFFALO GROVE, Ill. (AP) - Home health care provider Option Care Inc., which
is being purchased by Walgreen Co., said Tuesday its second-quarter earnings
rose 14 percent on soaring specialty pharmacy services segment revenue and lower
costs.
Net income was $5.9 million, or 16 cents per share, compared with $5.2
million, or 15 cents per share, in the year-ago quarter.
Revenue increased 20 percent to $189 million, from $157.3 million in the
second quarter of last year.
The company said its specialty distribution pharmacy services segment
revenue jumped 55.2 percent to $63.5 million for the quarter. Option Care also
said that selling, general and administrative expenses declined due to a shift
toward high volume specialty distribution pharmacy services and improved
operating efficiency.
Last month, federal regulators cleared the way for Walgreen Co.'s $760
million acquisition of Option Care.
Shares rose 3 cents to $19.42 in afternoon trading.
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