Mail order giant revenues down

Friday, June 30, 2006

WAKEFIELD, Mass. - PolyMedica and its subsidiary Liberty Medical attribute a 41% drop in earnings on their expanded pharmacy program, including the addition of 300 new employees at Liberty's Port St. Lucie, Fla.-based mail order operation. PolyMedica reported a drop in fourth-quarter earnings for the fiscal period ended March 31. Earnings were $6.9 million, compared to $11.7 million during the same time period in 2005. Training existing employees on the new Medicare Part D drug benefit also contributed to the loss. The mail order business has added more than 44,000 customers since January.