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Cardinal Health Reports Fiscal 2009 Results, Provides Fiscal 2010 Outlook
Date:8/18/2009

d cost-containment measures, all of which will continue through an important transition year in fiscal 2010," said R. Kerry Clark, chairman and chief executive officer of Cardinal Health. "With the improvement in the core businesses within the Healthcare Supply Chain Services segment and the resumption of customer installations for the Alaris((R)) System, both Cardinal Health and CareFusion have solid foundations and initiatives in place to position themselves for long-term success."

CONSOLIDATED Q4 AND FY09 RESULTS

The company reported fourth-quarter revenue growth of 10 percent to $25.2 billion and a 15 percent decline in earnings from continuing operations to $268 million, driven by previously disclosed factors impacting the Clinical and Medical Products business with a partial offset from solid profit growth from the Healthcare Supply Chain Services segment. Special items and impairments and other costs associated with the planned spinoff decreased after-tax earnings by $44 million or $0.12 per share. Excluding these items, fourth-quarter non-GAAP earnings from continuing operations(2) declined 9 percent to $311 million.

For full fiscal 2009, consolidated revenue grew 9 percent to $99.5 billion and earnings from continuing operations declined 12 percent to $1.1 billion. The net after-tax dilutive impact from special items and impairments and the impact of other costs associated with the planned spinoff totaled $114 million or $0.32 per share. Excluding these items, non-GAAP earnings from continuing operations declined 8 percent to $1.3 billion. In addition, the company finished the year with strong consolidated operating cash flow of approximately $1.6 billion, through disciplined management of working capital.

Q4 and FY09 SUMMARY

                        Q4 FY09       Q4 FY08     Y/Y         FY09      Y/Y

    Revenue         $25.2 billion $22.9 billion    1
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SOURCE Cardinal Health, Inc.
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