Omnicare Posts Q3 Loss; Updates FY13 View - Quick Facts

(RTTNews) - Omnicare(OCR), Wednesday posted a third-quarter loss, that included settlement, litigation and other related charges. However, adjusted earnings per share exceeded the Street estimates by a penny. The company updated its full-year guidance.

For the three-month period, the company reported net loss of $66.3 million or $0.65 per share, compared with net income of $61.4 million or $0.55 per share a year ago.

On an adjusted basis, earnings per share were $0.91 for the quarter. On average, nine analysts polled by Thomson Reuters expected the company to report earnings per share of $0.90 for the quarter. Analysts' estimates typically exclude one-time items.

Net sales were $1.58 billion, up from prior year's $1.50 billion. The Street expected the company to report revenues of $1.55 billion for the quarter.

Looking forward, for the year, the company now expects adjusted cash earnings per share to be between $3.60 to $3.62 per share, compared with the previous guidance of $3.56 to $3.64 per share. Revenues are expected to be between $6.2 billion to $6.3 billion, versus the previous expectations of $6.1 billion to $6.3 billion. Analysts expect the company to report earnings of $3.61 per share, on revenues of $6.22 billion.