CVS 3rd-Quarter Profit Rises 33%
CVS Corp., the second-largest U.S. drugstore chain, said third-quarter earnings rose 33%, helped by sales of higher-margin generic prescription drugs and a reduction in expenses.
Net income increased to $164.4 million, or 40 cents a share, from $123.7 million, or 30 cents, a year earlier, the company said. Sales gained 8.6% to $5.88 billion.
Shares of Woonsocket, R.I.-based CVS rose 6 cents to $27.21 on the NYSE.
From Bloomberg News
* Toyota Motor Corp., the world’s third-largest automaker, said profit for the fiscal first half climbed 90% from a year ago on strong U.S. and European sales despite slowing economies. Toyota said it earned $4.5 billion in the six months ended Sept. 30, on sales of $64.1 billion, up 15% from last year.
* Mossimo Inc. said third-quarter net income dipped to $1.61 million, or 10 cents a share, compared with $1.65 million, or 11 cents, a year ago. Revenue increased 9.4% to $4.3 million.
* Clorox Co. said its fiscal first-quarter profit rose 84% as the household-bleach maker cut expenses and increased sales of new products.
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