Prescription drug distributor AmerisourceBergen Corp.'s fiscal first-quarter net income edged up 1 percent as revenue improved on strength across its businesses.
AmerisourceBergen reported Thursday that it earned $162.1 million, or 62 cents per share, for the three months ended Dec. 31. That's up from earnings of $160.5 million, or 57 cents per share, in the same period last year.
Analysts expected slightly higher earnings of 63 cents per share, according to a FactSet poll. The shortfall pushed the company's stock down 80 cents, or 2 percent, to $39.02 in morning trading.
Revenue increased 2 percent to $20.36 billion from $19.89 billion on better sales at its specialty group and AmerisourceBergen Drug Corp. That topped expectations for $20.02 billion.
AmerisourceBergen still expects 2012 earnings between $2.74 and $2.84 per share, with flat to modest revenue growth. Analysts predict earnings of $2.82 per share for the year.
AmerisourceBergen is based in Valley Forge, Pa.