Longs’ earnings rise on prescription drug plans
From the Associated Press
Longs Drug Stores Corp. said third-quarter profit surged 42% on a 9.7% increase in revenue.
Walnut Creek, Calif.-based Longs earned $12.7 million, or 33 cents a share, compared with $8.9 million, or 23 cents, a year earlier. Revenue rose to $1.23 billion from $1.12 billion.
Longs executives attributed the increase primarily to the progress on new prescription drug plans for Medicare beneficiaries offered by RxAmerica.
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