COOL VALLEY (dpa-AFX) - Express Scripts Holding Co.(ESRX) announced first quarter net income of $267.8 million or $0.55 per share, down from $326.5 million or $0.61 per share in the same quarter last year.
Adjusted earnings per share rose to $0.73 from $0.66 in the year ago quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.77 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter rose to $12.13 billion from $11.09 billion in the prior year quarter. Eighteen analysts had consensus revenue estimate of $11.48 billion for the quarter.
The company expects to achieve adjusted earnings per share for 2012 in the range of $3.36 to $3.66. Analysts expect the company to report earnings of $3.63 per share for fiscal 2012.
The company continues to expect the acquisition of Medco to be slightly accretive during the integration period and moderately accretive once the integration is complete, which is anticipated in the first half of 2014. The company expects to realize $1 billion in net synergies once fully integrated.
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