BioScrip 4Q earns top expectations, shares rise

ELMSFORD, N.Y. (AP) ? Shares of BioScrip Inc. rose on Friday after the pharmacy benefits manager reported fourth-quarter earnings that beat Wall Street expectations, driven by solid revenue growth and lower operating expenses.

The company reported net income of $6.7 million, or 12 cents per share, for the last three months of 2011, compared with a loss of $67.1 million, or $1.25 per share, a year earlier. In the year-ago period, the company reported sharply higher expenses, as well as restructuring and legal charges.

Analysts surveyed by FactSet had expected to BioScrip to earn 9 cents per share in the latest quarter.

The Elmsdorf, N.Y. company also topped expectations for revenue, which rose 7 percent to $483.3 million. Analysts had forecast $458.9 million, on average. The company said its infusion/home health services and pharmacy services segments both posted increases during the quarter.

Operating expenses fell nearly 12 percent to $67.1 million from $76.2 million. Selling, general and administrative expenses were largely flat, and expenses from bad debt and restructuring declined.

For the full year, BioScrip reported net income of $7.9 million, or 14 cents per share, compared with a loss of $69.1 million, or $1.37 per share, in 2010. Full-year revenue rose 11 percent to $1.82 billion from $1.64 billion.

Shares of BioScrip rose 33 cents, or about 5 percent, to $6.95 in afternoon trading. The stock has traded in a 52-week range of $4.06 to $7.85.

Source: http://news.yahoo.com/bioscrip-4q-earns-top-expectations-shares-rise-204345653.html

pollyanna samuel adams snowy owl forrest gump bulls one for the money 10 minute trainer