BUSINESS MEMO: D&K SALES UP 25 PERCENT

D&K Wholesale Drug Inc. sales were up 25 percent during the third quarter of its fiscal year, ending Dec. 31. Sales were $108,268,000, up from $86,389,000 during the same quarter a year ago.

Net income for the latest quarter was $29,000,000 or one cent per share on a fully diluted basis. That compares to net income of $432,000 or 14 cents a share.

Nine months' net sales increased 46.8 percent to $321,715,000 up from the $154,846,000 totals of the previous year, with a net loss of $80,000, or three cents per share.

"Consolidation expenses exceeded our plan," said J. Hord Armstrong III, chairman and CEO, "but we have turned the corner following the consolidation of Duluth and Minneapolis distribution centers in Minneapolis and we feel the stage is set for greatly improved results in the fourth quarter and subsequent periods."

D&K Wholesale Drug Inc. is a full-service, regional wholesale distributor, supplying customers from facilities in Cairo, Ill., Lexington, Ky., and Minneapolis, Minn.