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

growth and non-GAAP diluted earnings per share from continuing operations in the range of $1.90 to $2.00, which is a slight increase from the implied range of $1.87 to $1.91 provided at our Investor Day on June 2," Barrett said. "The progress we made in fiscal 2009 reinforces our belief that the company's core businesses are strong and the investments we are making in fiscal 2010 will create a more positive and sustainable longer-term growth trajectory."

The company expects its Medical segment to contribute strong segment profit growth in fiscal 2010, which will be offset by an expected decline in Pharmaceutical segment profit, resulting from business investments, unfavorable year-over-year comparison from generic launches and customer contract repricings.

Additional Fourth-Quarter and Recent Highlights from Cardinal Health:

  • Renewed a distribution agreement with CVS Caremark to supply pharmaceuticals to its national network of retail pharmacies through mid-2013.
  • Increased the regular quarterly dividend by 25 percent to $0.175 per share, with the impact significantly increasing its expected payout ratio post-spin.
  • Record-breaking attendance at the company's Retail Business Conference, which included launches of new tools to help independent pharmacies deliver cost-effective, personalized care to more patients.
  • Announced three new members of the board of directors: George S. Barrett as chairman and chief executive officer of Cardinal Health, effective Sept. 1; Bruce L. Downey, former chairman and chief executive officer of Barr Pharmaceuticals, effective Sept. 1; and Glenn A. Britt, chairman, president and chief executive officer of Time Warner Cable, effective Oct. 1.
  • Hired Patricia Morrison as Chief Information Officer to enhance the company's enterprise-wide information technology infrastructure to support Cardinal Health's str
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SOURCE Cardinal Health, Inc.
Copyright©2009 PR Newswire.
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