CVS profit rises
7:54 AM Thu, Jul 31, 2008 | Permalink
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CVS Caremark Corp., based in Woonsocket, this morning said second-quarter profit grew due to improved sales at its retail drug stores. CVS reported net income rose to $774.8 million, or 53 cents per share, from $723.6 million, or 47 cents per share a year ago. Revenue increased 2 percent, for the quarter ended June 28, rising to $21.14 billion from $20.7 billion. Excluding one-time costs such as acquisitions, CVS Caremark said profit came to 60 cents per share. CVS Caremark Corp.'s retail drugstore revenue is up 4.6 percent, to $11.77 billion, and pharmacy services revenue edged up 1 percent to $10.66 billion. 
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