Company Exploring Spin-Off of Clinical And Medical Products Businesses
- Annual revenue increases 5 percent to $91 billion - GAAP diluted earnings per share from continuing operations increase 76
percent to $3.64 and 11 percent to $3.80 on a non-GAAP basis - Fourth quarter revenue increases 3 percent to $23 billion, GAAP diluted earnings per share from continuing operations increase 51 percent to $0.92
and 9 percent to $0.97 on a non-GAAP basis
- Reserve taken in connection with settlement discussions with Drug
Enforcement Administration - Fiscal 2009 non-GAAP earnings per share expected to be $3.80 to $3.95 as
company makes significant investments in R&D, IT
DUBLIN, Ohio, Aug. 7 /PRNewswire-FirstCall/ -- Cardinal Health, a global provider of products and services that improve the safety and productivity of health care, today reported an increase in fiscal 2008 revenue of 5 percent to $91 billion and a 76 percent increase in GAAP earnings per share (EPS) to $3.64. On a non-GAAP basis, EPS grew 11 percent to $3.80(1) for the year.
As the company had forecasted, the medical supply chain segment improved profit in the second half of the year, driven by double-digit growth in its core U.S. medical distribution business. Significant steps were taken in the pharmaceutical distribution business during the year to accelerate a recovery, which the company expects in the second half of fiscal 2009.
Results during the quarter and year continued to highlight growth within the company's medical technology segments. Combined revenue for the Clinical Technologies and Services, and Medical Products and Technologies segments grew by 24 percent to $5.6 billion and profit increased 36 percent to nearly $800 million for the year.
Cardinal Health also announced that its board of directors has
supported a management recommendation to actively explore a potent
|SOURCE Cardinal Health, Inc.|
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