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Rite Aid reports first fiscal year with net income since 2007

By , - Last modified: April 12, 2013 at 12:05 PM

Cumberland County-based drug store chain Rite Aid Corp. reported Thursday net income in its fiscal fourth quarter and full fiscal year after losses last time around for both periods, according to a news release.

The results also are the first time Rite Aid has generated full-year net income since fiscal 2007.

The East Pennsboro Township-based company reported fourth quarter net income of $123.1 million, or 13 cents per diluted share, compared with a net loss in last year’s fourth quarter of $161.3 million, or 18 cents per diluted share.

Rite Aid reported for the full year net income of $118.1 million or 12 cents per diluted share compared with the prior fiscal year loss of $368.6 million or 43 cents per diluted share.

Shares of the company, which is one of the nation’s largest drug store chains, are traded on the New York Stock Exchange under the ticker symbol RAD.

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