Tepid Numbers for McKesson
Operating profit plummeted for the technology solutions division of McKesson Corp. as revenue barely grew during the first quarter of fiscal 2011, ended June 30.
Operating profit plummeted for the technology solutions division of McKesson Corp. as revenue barely grew during the first quarter of fiscal 2011, ended June 30.
The division of San Francisco-based McKesson had operating profit of $64 million for the first quarter, down 38 percent from the same period a year ago. Continued investment in enterprisewide clinical and financial applications affected profit, according to the company.
First quarter revenue at the technology division rose 2 percent to $759 million. Services revenue increased 1 percent, reflecting higher software maintenance revenue partly offset by lower implementation revenue, as the sale of more complex enterprise systems leads to longer installation cycles, the company says. Software sales increased 4 percent to $135 million, and hardware sales were up 21 percent to $29 million. More information is available at mckesson.com.
--Joseph Goedert
The division of San Francisco-based McKesson had operating profit of $64 million for the first quarter, down 38 percent from the same period a year ago. Continued investment in enterprisewide clinical and financial applications affected profit, according to the company.
First quarter revenue at the technology division rose 2 percent to $759 million. Services revenue increased 1 percent, reflecting higher software maintenance revenue partly offset by lower implementation revenue, as the sale of more complex enterprise systems leads to longer installation cycles, the company says. Software sales increased 4 percent to $135 million, and hardware sales were up 21 percent to $29 million. More information is available at mckesson.com.
--Joseph Goedert
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