UPDATE 2-Amerisource profit tops estimates, ups FY11 view

* Q4 EPS 50 cents vs. Wall St view 48 cents

* Q4 rev $19.7 bln vs. est $19.6 bln

* Sees FY 2011 profit growth 7-12 pct, rev growth 2-4 pct

* Shares down 1.4 percent
(Adds details on forecast, analyst comments, share move)

NEW YORK, Nov 2 (BestGrowthStock) – AmerisourceBergen Corp (ABC.N: )
posted a 14 percent rise in quarterly profit that topped
analysts’ estimates on strong growth of its generic
pharmaceuticals and specialty distribution businesses.

The drug wholesaler, which competes with companies such as
McKesson Corp (MCK.N: ) and Cardinal Health Inc (CAH.N: ), also
raised the upper end of its fiscal 2011 earnings growth view.

Bernstein Research analyst Helene Wolk said Amerisource
reported better-than-expected gross-margin growth, but cast
doubt on whether the company’s growth would continue at a
similar pace.

“We believe momentum in Amerisource may wane as fiscal 2011
expectations appear achievable but may not be beatable due to
tough compares and company-specific risks,” Bernstein’s Wolk

AmerisourceBergen shares had risen 7 percent since it
reported a third-quarter profit (Read more your timing to make a profit.) beat in July, but were off 1.4
percent in early trading on Tuesday at $32.32.

For the fourth quarter that ended Sept. 30, Amerisource’s
net income rose to $141.2 million, or 50 cents a share,
compared to $130.1 million, or 44 cents a share a year ago.

Revenue rose 5 percent to $19.7 billion.

Analysts were expecting a profit of 48 cents a share, on
revenue of $19.6 billion, according to Thomson Reuters

For fiscal 2011, the Valley Forge, Pennsylvania-based
company expects to earn $2.31 to $2.41 a share, a 7 percent to
12 percent increase. It had previously forecast growth of 7
percent to 11 percent. Analysts were expecting earnings of
$2.35 per share.

The company said revenue for the year is expected to grow 2
percent to 4 percent.
(Reporting by Esha Dey; Editing by Derek Caney)

UPDATE 2-Amerisource profit tops estimates, ups FY11 view