Last $25.49 USD
Change Today 0.00 / 0.00%
Volume 0.0
PMC On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 8:04 PM 09/22/14 All times are local (Market data is delayed by at least 15 minutes).

pharmerica corp (PMC) Key Developments

PharMerica Corporation Announces New Senior Secured Credit Agreement

PharMerica Corporation announced that it has successfully closed on a new credit agreement. PharMerica will use the facilities for general corporate purposes and to pursue acquisition opportunities. Under the new credit agreement, the company borrowed a term loan of $225 million and will have access to a committed revolving credit facility of $310 million. The new credit agreement increases the size of PharMerica's committed revolving line of credit by $110 million, as compared to the revolving line of credit under the company's prior credit agreement, while lowering the company's interest rate by 75 basis points. In addition, the company may request commitments for additional term loans or revolving loans under the new credit agreement as long as they do not exceed $190 million in the aggregate, an increase of $90 million over the amount of incremental commitments and loans permitted under the company's existing credit agreement. Furthermore, the principle amortization schedule associated with the term loan is 5% annually, commencing with the second year of the five-year facility, with the remaining 80% due upon the expiration of the facility in September 2019.

PharMerica Mulls Acquisitions

PharMerica Corporation (NYSE:PMC) is seeking acquisitions. PharMerica Corporation closed on a new credit agreement and intends to use the proceeds for general corporate purposes and to pursue acquisition opportunities.

PharMerica Corporation Revises Earnings Guidance for the Full Year of 2014

PharMerica Corporation revises earnings guidance for the full year of 2014. For the full year, the company expects to revenues of $1.76 billion to $1.80 billion against prior guidance of $1.73 billion to $1.78 billion. Adjusted diluted earnings per share are expected to be in the range of $1.58 to $1.62 against prior guidance of $1.47 to $1.52. Adjusted EBITDA is expected to be in the range of $123.2 million to $126.0 million against prior guidance of $121.0 million to $123.5 million. The revised 2014 guidance reflects the company's acquisitions in 2014, which, in the aggregate, generate approximately $100 million of annualized sales.

PharMerica Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Revised Earnings Guidance for the Year 2014

PharMerica Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenues of $448.6 million compared with $430.8 million for the second quarter of 2013. The increase in revenue was primarily the result of the fourth quarter 2013 acquisitions and branded drug price inflation, and was partially offset by previously disclosed bed losses as of December 31, 2013. Adjusted EBITDA was $30.6 million compared with $33.7 million in the second quarter of 2013. Net loss was $9.7 million, or $0.32 basic and diluted loss per share, compared with net income of $10.2 million, or $0.34 basic and diluted earnings per share, for the same period in 2013. Net cash flows used in operating activities were $26.5 million compared with net cash flows provided by operating activities of $26.4 million in the second quarter of 2013. The decrease in cash provided by operating activities is due primarily to the company’s strategic purchasing program. Operating loss was $9.7 million compared to operating income of $21.3 million a year ago. Loss before income taxes was $12.0 million compared to income before income taxes of $18.4 million a year ago. Purchase of equipment and leasehold improvements was $6.8 million compared to $7.3 million a year ago. Adjusted diluted earnings per share were $0.40 against $0.44 last year. For the six months, the company’s revenues were $900.8 million compared with $870.6 million for the six months ended June 30, 2013. The increase in revenue was primarily the result of the fourth quarter 2013 acquisitions and branded drug price inflation, and was partially offset by previously disclosed bed losses as of December 31, 2013. Adjusted EBITDA was $60.3 million compared with $68.3 million for the six months ended June 30, 2013. Net loss was $4.9 million, or $0.16 basic and diluted loss per share, compared with net income of $20.7 million, or $0.69 diluted earnings per share, for the same period in 2013. Adjusted diluted earnings per share were $0.77 in 2014 compared with $0.90 in 2013, a decrease of 14.4%. Net cash flows used in operating activities were $22.1 million compared with net cash flows provided by operating activities of $73.9 million for the six months ended June 30, 2013. The decrease in cash provided by operating activities is due primarily to the company’s strategic purchasing program. Operating income was $0.6 million compared to $41.3 million a year ago. Loss before income taxes was $4.2 million compared to income before income taxes of $35.8 million a year ago. Purchase of equipment and leasehold improvements was $12.8 million compared to $14.0 million a year ago. Adjusted diluted earnings per share were $0.77 against $0.90 last year. PharMerica raised its full year of 2014 guidance metrics. For the full year, the company expects revenue in the range of $1.73 billion to $1.78 billion from $1.70 billion to $1.75 billion, adjusted diluted earnings per share in the range of $1.47 to $1.52 from $1.40 to $1.5 and adjusted EBITDA in the range of $121.0 million to $123.5 million from $117.5 million to $123.0 million.

PharMerica Corporation to Report Q2, 2014 Results on Aug 05, 2014

PharMerica Corporation announced that they will report Q2, 2014 results at 9:00 AM, Eastern Standard Time on Aug 05, 2014

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
PMC:US $25.49 USD 0.00

PMC Competitors

Market data is delayed at least 15 minutes.

Company Last Change
Omnicare Inc $62.57 USD 0.00
SunLink Health Systems Inc $1.33 USD 0.00
View Industry Companies
 

Industry Analysis

PMC

Industry Average

Valuation PMC Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.4x
Price/Book 1.7x
Price/Cash Flow 83.2x
TEV/Sales 0.3x
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact PHARMERICA CORP, please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.