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McKesson 4Q profit rises 20 percent on sales boost

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May 6, 2008

NEW YORK—Prescription drug distributor McKesson Corp. says its fiscal 2008 fourth-quarter profit rose 20 percent on sales boosts in both its distribution and technology units.

The San Francisco-based company earned $307 million, or $1.05 per share, compared with profit of $257 million, or 85 cents per share, during the same period a year prior.

Income from continuing operations -- which excludes results from businesses that have been, or are in the process of being sold -- totaled $1.04 per share.

Revenue rose 9 percent to $26.23 billion from $24.17 billion.

Analysts polled by Thomson Financial expected profit of $1 per share on revenue of $26.83 billion.

Sales in the distribution unit increased 8 percent while sales in the technology unit rose 19 percent, driven by the buyout of Per-Se Technologies Inc.

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