Cardinal Health Reports First Quart... ( - Revenue increases 11...)

Cardinal Health Reports First Quarter Results

Date:10/29/2008

- Revenue increases 11 percent to $24 billion - GAAP diluted earnings per share from continuing operations decline 16

percent to $0.69 and 14 percent to $0.74 on a non-GAAP basis

- Spin-off planning remains on target

- Full-year guidance remains unchanged

DUBLIN, Ohio, Oct. 29 /PRNewswire-FirstCall/ -- Cardinal Health, a global provider of products and services that improve the safety and productivity of health care, today reported an 11 percent increase in revenue to $24 billion, driven by strong sales in the Healthcare Supply Chain Services segment and continued growth within Clinical and Medical Products.

For the quarter ended Sept. 30, the Healthcare Supply Chain Services segment achieved double-digit revenue growth, which helped partially offset the expected year-over-year profit decline from previously disclosed contract re-pricings and anti-diversion efforts for controlled substances.

First-quarter GAAP earnings per share (EPS) declined 16 percent from the prior year period to $0.69. Special items primarily related to the restructuring announced on July 8 and impairments resulted in a $0.05 dilutive impact, bringing non-GAAP EPS from continuing operations(1) to $0.74.

In early October, Cardinal Health entered into an agreement with the U.S. Drug Enforcement Administration (DEA) to resume shipments of controlled substances from three of the company's distribution centers, which is anticipated to contribute to growth in the second half of the fiscal year. The company expects these facilities to fully resume shipment of controlled substances by the end of November.

"The company performed as expected with double-digit revenue and profit performance from Clinical and Medical Products, and I am encouraged by continued signs of early progress in the pharmaceutical supply chain business," said R. Kerry Clark, chairman and CEO of Cardinal Health. "We remain focus
'/>"/>

0

GOOD

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
Related medicine news :

1. Positive Picture of Independent Community Pharmacies Emerges With Release of 2008 NCPA Digest, Sponsored by Cardinal Health
2. Cardinal Health Reports Fiscal 2008 Results, Provides Fiscal 2009 Outlook
3. Cardinal Health Declares Regular Quarterly Dividend
4. Cardinal Health Expands Leader(R) Offering To Help Independent Pharmacies Strengthen Patient Relationships, Solidify Role As Local Health Care Experts
5. Cardinal Health Formalizes Consolidation of Businesses Into Two Primary Operating and Reporting Segments
6. Cardinal Health Increases Quarterly Dividend by 17 Percent
7. Cardinal Health Reports Third Quarter Results
8. Cardinal Health Awards $1 Million to Fund Patient Safety Initiatives
9. Cardinal Health to Announce Third-Quarter Results on May 1
10. Cardinal Health, ClearCount Medical Solutions Sign Primary Distribution Agreement for RFID-Enabled Sponge Counting, Detection System
11. Cardinal Health, GE Healthcare Broaden Relationship to Offer Greater Access to Myoview(TM) Imaging Agent

Post Your Comments:

Cardinal Health Reports First Quart...( - Revenue increases 11...),Health