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Omnicare 1Q Profit Declines 42% As Margins Fall

DOW JONES NEWSWIRES Omnicare Inc.'s (OCR) first-quarter earnings fell 42%, though adjusted results still topped analysts' estimates, as margins declined and the company saw a bigger loss from discontinued operations. The provider of drugs to nursing homes and assisted-living centers has struggled with falling earnings in recent quarters, hurt by litigation charges and other expenses. Omnicare reported a profit of $29.3 million, or 26 cents a share, down from $50.9 million, or 43 cents, a year earlier. Excluding litigation settlement and other items, earnings per share fell to 52 cents from 59 cents. Revenue rose 2.3% to $1.53 billion. Analysts polled by Thomson Reuters had most recently forecast earnings of 50 cents on $1.52 billion in revenue. Gross margin fell to 22.1% from 23%. The company's loss from discontinued operations widened to $21.2 million from $7.3 million in the year-earlier period. Shares were inactive premarket after closing the prior day at $32.71. As of the close, the stock had risen 15% the past year. -By Nathan Becker, Dow Jones Newswires; 212-416-2855; nathan.becker@dowjones.com;

Stock News for Omnicare (OCR)
DateTimeHeadline
07/02/201516:37:35Statement of Changes in Beneficial Ownership (4)
06/26/201517:16:54Proxy Statement - Merger or Acquistion (preliminary) (prem14a)
06/19/201516:15:00Omnicare's Series A and Series B Trust PIERS to Accrue Contingent...
06/16/201516:44:21Statement of Changes in Beneficial Ownership (4)
06/15/201508:20:08CVS to Buy Target Pharmacy Business
06/05/201516:20:30Current Report Filing (8-k)
05/29/201517:15:49Initial Statement of Beneficial Ownership (3)
05/29/201517:14:58Initial Statement of Beneficial Ownership (3)
05/29/201517:14:05Initial Statement of Beneficial Ownership (3)
05/29/201510:01:03What You Need to Know About CVS's $12.7 Billion Acquisition of...
05/27/201522:00:00SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into...
05/27/201517:42:13Statement of Changes in Beneficial Ownership (4)
05/27/201517:41:21Statement of Changes in Beneficial Ownership (4)
05/27/201517:39:25Statement of Changes in Beneficial Ownership (4)
05/27/201517:38:59Statement of Changes in Beneficial Ownership (4)
05/27/201510:59:00OMNICARE, INC. SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces...
05/27/201505:35:00SHAREHOLDER ALERT: Brodsky & Smith, LLC Announces Investigation...
05/26/201516:23:00OMNICARE INVESTOR ALERT BY THE FORMER ATTORNEY GENERAL OF LOUISIANA:...
05/26/201514:24:36Additional Proxy Soliciting Materials (definitive) (defa14a)
05/26/201511:26:00INVESTOR ALERT: Levi & Korsinsky, LLP Notifies Shareholders of...

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