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Morning Buzz: AmerisourceBergen Corp. (NYSE:ABC), Diebold Inc (NYSE:DBD), Lancaster Colony Corp. (NASDAQ:LANC)

Morning Buzz: AmerisourceBergen Corp. (NYSE:ABC), Diebold Inc (NYSE:DBD), Lancaster Colony Corp. (NASDAQ:LANC)
Written by
Joel Najarian
Published on
October 30, 2014
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AmerisourceBergen Corp. (NYSE:ABC), a pharmaceutical-services company, Thursday reported fiscal Q4 results above analysts' expectations provided a guidance range for fiscal 2015 earnings that was mostly above the Street view, but its revenue forecast for the new fiscal year was below analysts' consensus estimate. For the quarter ended Sept. 30, AmerisourceBergen's net income climbed to $67.8 million, or $0.29 per diluted share, from $51.0 million, or $0.22 per diluted share, a year earlier. Excluding one-time items, AmerisourceBergen Corp. (NYSE:ABC) earned $1.10 per share in the latest quarter, up from $0.01 per share a year earlier and above the $1.05 per share expected on average by analysts polled by Capital IQ.Revenue jumped 29% to $31.59 billion, topping the Street's consensus estimate of $30.82 billion. Gross profit margin edged up to 2.76% from 2.32% in the prior-year period. AmerisourceBergen said it expects adjusted diluted earnings per share from continuing operations in fiscal 2015 to be in the range of $4.36 to $4.50, an increase of 10% to 13% over fiscal 2014. Analysts recently were projecting $4.38. It sees fiscal 2015 revenue growth in the range of 7% to 8% from fiscal 2014's $87.96 billion, implying a forecast of $94.12 billion to $95.0 billion, below the $124.50 billion recently expected by the Street. The company also said it expects to spend approximately $400 million in share repurchases under its regular repurchase program, and $400 million under its special repurchase program, in fiscal 2015.Diebold Inc (NYSE:DBD), which provides integrated self-service delivery and security systems, reported Q3 sales that rose from a year prior while net income swung to a profit. Diebold Inc (NYSE:DBD) reported sales of $768.0 million, up from $705 million a year prior and net income of $0.51 per share, up from a loss of $0.34 per share a year prior. Adjusted EPS was $0.54 per share. Street estimates were $736 million in sales and earnings of $0.49 per share. For the full year 2014, the company expects revenue to be up about 7%, vs. its previous guidance for a mid-single digit increase. EPS guidance was was narrowed to $1.70 to $1.80 from a prior view of $1.65 to $1.85 per share. DBD trades in a 52-week range of $29.12 to $41.45.Lancaster Colony Corp. (NASDAQ:LANC), which manufactures consumer products, reported Q3 earnings that were in line with the Street view, while revenue topped projections. Q1 net income also totaled $22.8 million or $0.83 per share as there was no impact from discontinued operations while the prior-year net income was $24.8 million or $0.91 per share, including a contribution of $0.7 million or $0.03 per share from discontinued operations. The Street expected $0.83 per share in earnings, according to Capital IQ estimates. Lancaster Colony Corp. (NASDAQ:LANC) reported net sales reached a Q1 record of $260 million, up 5% from the prior-year level of $248 million. The Street expected $259 million in sales. LANC trades in a 52-week range of $80.46 to $99.73.

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