BERGEN BRUNSWIG DRUG SALES UP 12% TO $3.4 BIL
Executive Summary
BERGEN BRUNSWIG DRUG SALES UP 12% TO $3.4 BIL in fiscal 1989, and revenues from the drug/health care division climbed 11.9% to $869.4 mil. in the last quarter of the year (ended Aug. 31). The Orange, California-based drug wholesaler and consumer electronics firm announced year-end results on Oct. 2. The drug division's operating profits for the fourth quarter were 7.5% higher than in the previous year at $23.5 mil. and spiraled 18.2% to $99.6 mil. for the full year. Bergen Brunswig Chairman and CEO Emil Martini, Jr. attributed the over-18% jump in division operating profits to "a slightly higher gross profit margin rate coupled with a reduction in the overall operating expense." The firm recorded an overall sales increase for the year of 12.5% to $3.9 bil. Fourth quarter consolidated revenues rose 11% to $997.8 mil. Bergen's Commtron Corp. had sales of $550 mil. for the year, a 16% increase over 1988 sales of $475 mil.