Ahead of AmerisourceBergen merger, MWI charts double-digit sales growth

MWI Veterinary Supply ($MWIV) has proven once again why it was such a hot target for drug wholesaler AmerisourceBergen ($ABC), which is in the process of acquiring the animal-health distributor for $2.5 billion. MWI announced Thursday that its revenues in its fiscal first quarter jumped 16% to $798.5 million, and its net income grew 9% to $20.1 million. MWI cited several strong points in its earnings release, including 22% growth in Internet sales to independent veterinary practices, and 30% higher sales from veterinary pharmacy programs. Profit margins took a hit from a reduction in a large manufacturer's rebate, the company said, but its earnings per share of $1.57 still handily topped analyst estimates of $1.52, according to Zacks. Release

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