UPDATE 3-McKesson profit falls, outlook disappoints

* Fiscal Q4 net earnings $1.01

* Sees EPS $3.90 to $4.05 for fiscal 2010

* Shares fall 3.5 pct (Adds company comment from conference call, analyst comment)

By Bill Berkrot

NEW YORK, May 4 (Reuters) - McKesson Corp (MCK.N) reported on Monday that its quarterly profit fell 8.4 percent and the pharmaceutical wholesaler forecast earnings for fiscal 2010 below Wall Street estimates, sending its share down by more than 3 percent.

Citing slow economic conditions and customer purchasing delays, McKesson now sees earnings of $3.90 to $4.05 for the fiscal year ending March 31, 2010. Analysts on average had been anticipating $4.12 per share for the period.

"The guidance, I think that might disappoint some people," said Richard Close, an analyst with Jefferies & Co.

"They had been foreshadowing some headwinds in both their businesses."

McKesson officials said its forecast assumes that the economy and financial markets stay about the same as they are now for most of fiscal 2010, which ends March 31, with a modest uptick toward the end of the year.