By  on May 5, 2010

CVS Caremark Corp. reported a 4.5 percent upswing in first-quarter profits on a 1.6 percent rise in revenues for the first quarter ended March 31, despite the impact of a weak flu season and severe weather in certain markets on the firm’s front-of-store and pharmacy same-store sales.

Net earnings reached $771 million, or 55 cents a diluted share, compared with $738 million, or 50 cents, in the year-ago quarter. The Woonsocket, R.I.-based drugstore chain noted that adjusted EPS from continuing operations attributable to the firm, which excludes $105 million of intangible asset amortization related to acquisition activity, were 60 cents for the quarter, compared with a consensus estimate of 58 cents among analysts polled by Yahoo Finance and a mark of 55 cents in the prior year.

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