FoxMeyer income up 81.8% in half. (FoxMeyer Corp.; drugstores)

FoxMeyer income up 81.8% in half

DALLAS - Reporting for the first time as an independent public company, FoxMeyer Corp. posted substantial increases in operating profits and net income for the quarter and half ended September 30.

The distributor of pharmaceuticals and H&BAs netted $5.81 million during its second quarter, up 81.6% from $3.2 million a year earlier. Factoring out tax loss carryforward credits of $1.6 million and $1.05 million in the respective fiscal 1992 and 1991 periods, after-tax income was up 95.8%.

Operating income for the three months jumped 63.3% to $8.49 million from $5.2 million a year ago on a 5.1% increase in sales to $736.5 …