McKesson closes fiscal year on the upswing

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Saying it delivered a "solid financial performance," McKesson Corp. released its results for its fiscal year ending March 31.

Revenues reached $69.5 billion, an increase of 22 percent over $57.1 billion in the previous fiscal year. Net income rose to $646.5 million, up 16 percent from $555.4 million in the last fiscal year.

McKesson Chairman and CEO John H. Hammergren described revenue growth in the company's Information Solutions business unit for the fiscal year as "modest." He continued that "Software revenues were impacted by slower demand for non-clinical software and longer installation periods needed to implement our complex clinical contracts."

Hammergren added that McKesson's long-term growth potential "remains extremely positive."