Cardinal Health Reports Fiscal 2008 Results, Provides Fiscal 20... (h annual Retail Business Conference incl...)

Cardinal Health Reports Fiscal 2008 Results, Provides Fiscal 2009 Outlook

Date:8/7/2008

h annual Retail Business Conference, including a private-label brand of durable medical equipment, front-of-store management system, automated calling technology and automated pill counting systems;

-- A three-year agreement to serve as primary supply chain partner for Prime Therapeutics, one of the nation's largest pharmacy benefit managers, which serves approximately 14.6 million members nationwide;

-- Contracts with Premier for Alaris(R) infusion systems, Presource(R) custom procedure packs, Convertors(R) surgical drapes and gowns, third-party instrument repair, respiratory equipment, Pyxis(R) medication and supply automation products, and ChloraPrep(R) brand chlorhexidine gluconate (CHG) skin prep products.

Outlook

"In fiscal 2009, we plan to make incremental investments of up to $100 million to strengthen R&D in the clinical and medical products business and improve information technology in the supply chain services business," Clark said. "These investments will affect our earnings growth rates in fiscal 2009, but are important, foundational moves that we believe will accelerate future growth in both segments."

For fiscal 2009, the company expects revenue growth of 6 to 7 percent. Non-GAAP diluted EPS from continuing operations is expected to be in a range of $3.80 to $3.95 based on investments the company plans to make in new product development and information technology, and previously disclosed challenges in the pharmaceutical distribution business that are expected to continue through the first half of the fiscal year, coupled with a particularly unfavorable comparison in the first quarter due to strong branded price inflation in the prior year period.

As a result, non-GAAP EPS in the first quarter is expected to be around $0.70. The company forecasts EPS to return to more normal levels in the second quarter, with overall company results stronger in the second half of the year.

Fiscal 2009 Financia
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SOURCE Cardinal Health, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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Cardinal Health Reports Fiscal 2008 Results, Provides Fiscal 20...(h annual Retail Business Conference incl...),Health