Omnicare Q1 Results Top View - Quick Facts

(RTTNews) - Pharmaceutical services provider Omnicare Inc. (OCR) Wednesday said first-quarter net income grew to $77.39 million from $63.77 million. Earnings per share improved to $0.75 from $0.59.

Adjusted cash earnings per share was $1.02 while it totaled $0.91 last year. On average, nine analysts polled by Thomson Reuters expected earnings of $1.01 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales increased to $1.660 billion from $1.571 billion. Analysts expected revenues of $1.64 billion.

Nitin Sahney, Omnicare's President and Chief Executive Officer, said, "Both operating segments performed well in the quarter and contributed to our solid first-quarter results."

Looking ahead, the company still expects adjusted cash earnings per share of $4.08 to $4.16, and revenue in the range of $6.5 billion to $6.7 billion.