Omnicare Q2 Profit Rises - Quick Facts

(RTTNews) - Omnicare Inc. (OCR) reported that its net income for the second-quarter rose to $33.97 million from last year's $21.97 million, with earnings per share improving to $0.32 from $0.21 in the previous year.

Adjusted cash earnings per share from continuing operations was $1.02 (equivalent to $1.04 on an unaffected share price basis) compared to $0.91 in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.02 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter grew to $1.733 billion from $1.611 billion last year. Wall Street expected revenues of $1.68 billion for the quarter.

In the second quarter, Omnicare and CVS Health Corp. (CVS) announced the two companies had entered into a definitive agreement under which a subsidiary of CVS will acquire Omnicare for $98 per share in cash. The transaction is expected to close prior to the end of 2015.