Company Reaffirms Fiscal Year 2012 EPS Guidance Range of $2.74 to
$2.84
AmerisourceBergen Corporation (NYSE: ABC) today announced that
Michael D. DiCandilo, the Company's Executive Vice President and Chief
Financial Officer, has left the Company to pursue other interests,
effective immediately.
"Mike departs the Company with an impeccable record of service over his
21 years, including the past ten as our Chief Financial Officer," said
Steven H. Collis, President and Chief Executive Officer of
AmerisourceBergen. "His tremendous contributions to the success of
AmerisourceBergen through his fiscal leadership and business stewardship
are greatly appreciated, and we wish him all the best in his future
endeavors."
Also effective immediately, Tim G. Guttman, the Company's Vice President
and Corporate Controller since 2002, will serve as acting CFO and will
assume responsibility for the Company's core financial functions on an
interim basis. Guttman was previously Vice President, Finance of Syncor
International, and held financial planning and financial services
managerial positions at Disney Consumer Products, Pizza Hut, Inc. and
PepsiCo, Inc.. Guttman started his career as a certified public
accountant with accounting firm Deloitte & Touche.
AmerisourceBergen has engaged an executive search firm to manage the
recruitment of a new Chief Financial Officer.
In addition, the Company said that it continues to expect diluted
earnings per share in fiscal year 2012 to be in the range of $2.74 to
$2.84. Also unchanged are the assumptions supporting the expected
diluted earnings per share range for fiscal year 2012, including: flat
to modest revenue growth; operating margin growth in the high
single-digit to low double-digit basis points range; and free cash flow
in the range of $700 million to $800 million, which includes capital
expenditures in the $150 million range. Subject to market conditions, we
continue to expect to spend approximately $400 million to repurchase our
common shares in fiscal year 2012.
About AmerisourceBergen
AmerisourceBergen is one of the world's largest pharmaceutical services
companies serving the United States, Canada and selected global markets.
Servicing both healthcare providers and pharmaceutical manufacturers in
the pharmaceutical supply channel, the Company provides drug
distribution and related services designed to reduce costs and improve
patient outcomes.