ADVP WATCH (17.10) -- Weak and beaten down, but Net Income soared 42% and they guided up.
Yes, 43% increase! LOL! The stock is down 50% or more in the last few months. Forward PE = 10, a historic low. Share buyback announced.
How cheap will it get? More importantly isn't it fascinating how well a group can perform business-wise but its stock keep going down? Absolutely incredible...and they raised guidance. EIE (Enough is enough, election year or not). The senior drug bill is dead, too. This is one to definitely watch. It they want to give it away even cheaper, great.
NEWS
AdvancePCS's 1st-Quarter Net Soared 42%, Raises Full-Year Profit Target
IRVING, Texas -- AdvancePCS reported a 42% surge in fiscal first- quarter net income and boosted its full-year earnings forecast.
For the quarter ended June 30 , the pharmacy-benefit manager posted net income of $35.3 million, or 35 cents a share, compared with $24.9 million, or 27 cents a share, a year earlier. Revenue rose 14% to $3.59 billion from $3.15 billion.
"We are extremely pleased with the record results we posted this quarter, from both a financial and an operating perspective," Chairman and Chief Executive David D. Halbert said in a statement. He added the company is boosting its fiscal 2003 earnings outlook to about $1.57 a share, which is two cents higher than the First Call estimate. Fiscal 2002 earnings were $1.23 a share.
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AdvancePCS Announces Share Repurchase Program
IRVING, Texas, Jun 6, 2002 (BW HealthWire) -- AdvancePCS (Nasdaq: ADVP chart, msgs), the nation's leading health improvement company, today announced that its board of directors has authorized a repurchase program of up to $150 million of its outstanding shares of Class A common stock in the open market or private transactions. |
