Longs Drug posts a 40% rise in profit
From Times Wire Services
Drugstore operator Longs Drug Stores Corp. said its fiscal second-quarter earnings rose 40%, helped by higher retail and pharmacy-benefit services revenue.
Profit rose to $26.6 million, or 69 cents a share, from $19 million, or 50 cents, in the same period last year. Revenue rose 3% to $1.27 billion.
Analysts polled by Thomson Financial had expected a profit of 63 cents a share on revenue of $1.29 billion.
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