Bindley Western kicks off year with 11.4% earnings gain. (Bindley Western Industries Inc. Bindley Western Drug Div.)

INDIANAPOLIS -- Bindley Western Industries Inc. kicked off 1994 with an 11.4% increase in earnings on a 14.8% sales gain.

Net income for the drug wholesaler reached $3.62 million over the three months ended March 31 from $3.25 million a year earlier. Sales increased to $916.8 million from $798.5 million.

On a pretax basis earnings rose 15% to a record $6.14 million. An increase in the company's 1994 effective tax rate, due primarily to the 1993 midyear statutory rate hike, reduced net profits by $123,000.

"Management was pleased with the record results, especially considering the continuing industry pressure to increase market share at the expense of gross …