AmerisourceBergen reaffirms 2011 guidance

Drug distributor AmerisourceBergen Corp., of Valley Forge, said it will reaffirm its previous guidance for fiscal 2011 at its investor day meeting today in New York.

The company expects earnings per share for the 2011 fiscal year to be from $2.31 to $2.41, up 7 percent to 12 percent from the $2.16 per share adjusted income earned in fiscal 2010.

The company also left unchanged its revenue growth forecast of 2 percent to 4 percent, and its operating margin growth prediction in the low- to mid-single digit basis point range. AmerisourceBergen reported fiscal 2010 revenue of $77.95 billion.

The company also said it plans to repurchase $400 million in common shares during fiscal 2011.

Industry analysts polled by Thomson Reuters expect 2011 earnings per share of $2.38 on revenue of $80.24 billion.

Shares of AmerisourceBergen rose 12 cents to $32.39 in Thursday morning trading.