Omnicare forecasts 2012 above Street estimates

Omnicare 2012 profit forecast comes in slightly above Wall Street estimates

Associated Press – Tue 10 Jan, 2012 11:04 PM IST

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OCR45.750.34

COVINGTON, Ky. (AP) — Omnicare Inc., which dispenses drugs for nursing homes and other long-term care centers, said Tuesday it expects to report a profit of $2.37 to $2.47 per share in 2012.

The outlook was slightly better than Wall Street expected. On average, FactSet reports that analysts expect Omnicare to earn $2.39 per share this year.

The Covington, Ky., company has forecast a profit of $2.09 to $2.13 per share for 2011.

Shares of Omnicare rose 74 cents, or 2.2 percent, to $34.75 in midday trading. The stock has traded between $20.36 and $35.87 over the past year.

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