McKesson releases 3Q FY05 results

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McKesson Corp. reported that revenues for the third quarter FY05 ending December 31 were $20.8 billion, an increase of 14 percent from $18.2 billion in the year-ago quarter.
   
For the quarter, McKesson had a net loss of $655 million including the previously announced after tax-charge of $810 million for settling the company's consolidated securities class action and reserves for remaining related cases. Not including the securities litigation charge, McKesson had net income of $145 million compared with $120 million in the year-ago quarter.
   
For the nine-month period, sales increased 16 percent to $59.9 million, compared with $51.6 million in the first nine months of FY04. Net income, excluding securities litigation charge decreased 9 percent to $394.3 million, compared with $432.3 million in the year-ago period.