Walgreen 3Q Net Income Climbs |
| Houston Chronicle - Jun 25, 2007 |
Drugstore chain Walgreen Co. said Monday its third-quarter profit rose nearly 20 percent, propelled by a growing market share in its top products and an increase in prescription sales.
Net income for the quarter ending May 31 totaled $561.2 million, or 56 cents per share, compared to $469.2 million, or 46 cents per share in the year-ago period. Quarterly results include a $13.5 million credit for resolving a multiyear state tax matter. Results also include a "Last In, First Out" credit of $3.5 million for lower inflation than expected in pharmacy inventories.
"Last In, First Out" is an asset-management method that assumes assets produced or acquired last are the first ones that are used or sold.
Read Full Article from Houston Chronicle
- Posted: 2007-06-25 09:57:10
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