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Cardinal Health Reports First Quarter Results
Date:10/29/2008

ed on driving growth for both segments, while working diligently toward completing the spin-off of our clinical and medical products businesses by the middle of calendar 2009."

The company announced on Sept. 29 that its board of directors had approved plans for a tax-free spin-off of most of its clinical and medical products businesses as a separate, publicly traded company. Completion of the spin-off is subject to final approval by the company's board of directors, confirmation of the tax-free nature of the transaction and the effectiveness of a Form 10 registration statement to be filed with the U.S. Securities and Exchange Commission.

Q1 FY09 SUMMARY

Q1 FY09 Q1 FY08 Y/Y

Revenue $24.3 billion $22 billion 11 %

GAAP Operating

Earnings $426 million $490 million (13)%

Non-GAAP Operating

Earnings(2) $482 million $512 million (6)%

GAAP Earnings from

Continuing Operations $250 million $303 million (18)%

Non-GAAP Earnings

from Continuing

Operations(3) $268 million $318 million (16)%

GAAP Diluted EPS from

Continuing Operations $0.69 $0.82 (16)%

Non-GAAP Diluted EPS from

Continuing Operations $0.74 $0.86 (14)%

FIRST-QUARTER SEGMENT RESULTS

Healthcare Supply Chain Services

Q1 FY09 Q1 FY08 Y/Y

Revenue $23.4 billion $21.1 billion 11 %

Segment Profit $292 million $347 million (16)%

Healthcare Supply Chain Services increased revenue by 11 percent to $23.4 billion, from sales to both pharmaceutical and medical supply chain customers. Sales to bulk customers(4) increased 20 percent to $10.7 billion and sales to non
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SOURCE Cardinal Health, Inc.
Copyright©2008 PR Newswire.
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