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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;;

Stock News for Omnicare (OCR)
07/31/201517:08:02Additional Proxy Soliciting Materials (definitive) (defa14a)
07/29/201517:29:55Current Report Filing (8-k)
07/29/201517:27:38Additional Proxy Soliciting Materials (definitive) (defa14a)
07/24/201508:10:40Quarterly Report (10-q)
07/24/201508:05:52Current Report Filing (8-k)
07/24/201508:00:24Omnicare Reports Second-Quarter 2015 Financial Results
07/21/201506:02:14Proxy Statement - Merger or Acquistion (definitive) (defm14a)
07/10/201509:00:42Omnicare to Report Second-Quarter 2015 Financial Results on Friday...
07/06/201515:41:47Additional Proxy Soliciting Materials (definitive) (defa14a)
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...

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