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news.Omnicare, a provider of professional pharmacy services and related consulting and data management services, has reported net sales of $1.53bn for the first quarter ended 31 March 2011, compared to $1.49bn for the same period in 2010.
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The company posted a gross profit of $337.91m for the first quarter of 2011, compared to $343.46m for the same period in 2010.
For the first quarter of 2011, Omnicare has reported net loss of $29.3m, compare to $50.85m for the same period last year.
Omnicare’s operating loss was $114.47m, compared to $126.43m for the same period in 2010.
Omnicare CEO John Figueroa said they improved their customer retention rate for the third consecutive period, reflecting positively on their company-wide focus on service and their redefined organizational structure.
"Additionally, we continued to strengthen the organization within our specialty care group, while also continuing our efforts to insource certain corporate support functions, most notably hiring talented executives to lead our legal, tax and compliance functions," Figueroa said.