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McKessonHBOC Profits Miss Mark; Red Line CEO Resigns
San Francisco With a decline in revenues from its information technology segment offsetting gains in its health care supply business, McKessonHBOC Inc. second-quarter profits fell short of Wall Street's expectations.
The drug distributor reported net earnings of $59.3 million, or 21 cents a share, for the second quarter of fiscal 1999, ended Sept. 30, compared with earnings of $26.3 million, or 10 cents a share, during the same period a year ago. Analysts had expected the company to earn 32 cents a share for the quarter.
Meanwhile, Rob Carr resigned as president of Red Line Extended Care, a subsidiary of McKessonHBOC. Gary Keeler, senior vice president of sales, will replace Carr, who had been president for five years and is leaving to pursue other opportunities. Redline also reinstituted the position of chief operating officer, naming Ted Ramlett, who was vice president of vendor relations for McKessonHBOC's Medical Group, as interim COO.ichard Park
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© 2008 Penton Media Inc.







