Last $24.79 USD
Change Today -0.09 / -0.36%
Volume 196.2K
PMC On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 09/29/14 All times are local (Market data is delayed by at least 15 minutes).

pharmerica corp (PMC) Snapshot

Open
$24.49
Previous Close
$24.88
Day High
$25.03
Day Low
$24.37
52 Week High
06/6/14 - $30.48
52 Week Low
09/30/13 - $12.84
Market Cap
745.2M
Average Volume 10 Days
230.7K
EPS TTM
$1.39
Shares Outstanding
30.1M
EX-Date
--
P/E TM
17.8x
Dividend
--
Dividend Yield
--
Current Stock Chart for PHARMERICA CORP (PMC)

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pharmerica corp (PMC) Details

PharMerica Corporation operates as an institutional pharmacy services company in the United States. The company offers services to healthcare facilities; pharmacy management services to hospitals; specialty infusion services to patients outside hospitals; and oncology pharmacy services. It purchases, repackages, and dispenses prescription and non-prescription pharmaceuticals in accordance with physician orders and delivers such medication to healthcare facilities for administration to individual patients and residents. The company also provides hospital pharmacy management services, including hospital pharmacy operations, regulatory and financial management services, and clinical pharmacy programs, as well as offers consultant pharmacist services and medical records services. It operates approximately 96 institutional, 12 specialty infusion, and 5 specialty oncology pharmacies in 45 states, as well as provides pharmacy management services to 83 hospitals. The company serves institutional healthcare providers, such as skilled nursing facilities, nursing centers, assisted living facilities, hospitals, and other long-term alternative care settings. PharMerica Corporation was founded in 2006 and is headquartered in Louisville, Kentucky.

4,700 Employees
Last Reported Date: 02/28/14

pharmerica corp (PMC) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $837.7K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $192.2K
President of Amerita, Inc
Total Annual Compensation: $290.0K
Chief Compliance Officer, Senior Vice Preside...
Total Annual Compensation: $320.1K
Senior Vice President of Purchasing & Trade R...
Total Annual Compensation: $294.2K
Compensation as of Fiscal Year 2013.

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 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.

 

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PMC

Industry Average

Valuation PMC Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.4x
Price/Book 1.6x
Price/Cash Flow 79.6x
TEV/Sales 0.3x
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