AmerisourceBergen lifts fiscal 2008 profit outlook

Drug distributor AmerisourceBergen Corp. raised its fiscal 2008 profit forecast Thursday to a range equal to or better than Wall Street's expectations.

The company raised its fiscal 2008 profit forecast to a range of $2.81 to $2.89 per share in profit from continuing operations, up from $2.77 to $2.87 per share. The outlook implies a profit of 65 to 73 cents per share in the fiscal fourth quarter, which ends in September.

On average, Thomson Financial reports that analysts expect a profit of $2.81 per share for the year, with 71 cents per share in the fourth quarter.

AmerisourceBergen swung to a loss in the fiscal third-quarter after agreeing to sell its PMSI workers' compensation business. Its adjusted profit and revenue exceeded analyst estimates.