McKesson reports growth in 1Q of FY04

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McKesson Corp. this week released its sales and earnings in the first quarter of FY04, ending June 30.

McKesson reported that revenues increased 16 percent to $19.2 billion, compared with $16.5 million in the first quarter of FY03. Net income climbed 5 percent to $163.6 million, compared with $155.6 million in the year-ago quarter.

McKesson's Pharmaceutical Solutions increased 17 percent from the year ago quarter to $18.2 billion. Medical-Surgical Solutions revenues remained stagnant at $707.2 million and Provider Technologies were up 11 percent to $299.7 million.

McKesson says its Pharmaceutical Solutions were driven by its U.S. and Canadian pharmaceutical distribution customers and its new contract with the Department of Veteran Affairs.