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Cardinal Health Reports Second Quarter Results
Date:2/5/2009

DUBLIN, Ohio, Feb. 5 /PRNewswire-FirstCall/ -- Cardinal Health, a global provider of products and services that improve the safety and productivity of health care, today reported solid fiscal second quarter results driven by top- and bottom-line growth from its supply chain and medical product segments.

For the quarter ended Dec. 31, 2008, revenue grew 8 percent to $25 billion, and non-GAAP earnings from continuing operations(1) increased 2 percent to $335 million. GAAP diluted earnings per share (EPS) from continuing operations declined 1 percent to $0.88. The impact of special items, impairments and other costs associated with the proposed spinoff of Clinical and Medical Products (CMP) totaled $16 million after tax or $0.05 per share, bringing non-GAAP diluted EPS from continuing operations(2) to $0.93, a 3 percent increase over the prior-year period.

"Despite a very challenging economic climate, we had solid growth from both of our primary operating segments," said R. Kerry Clark, chairman and chief executive officer of Cardinal Health. "HSCS returned to year over year segment profit growth in the second quarter, and we expect to remain on track with positive growth for the second half of the fiscal year. CMP continued its track record of double-digit segment profit growth, though we continue to see the deferral in hospital spending affecting its performance for the remainder of the fiscal year. We are reaffirming our full-year guidance, adjusted on Jan. 8, of non-GAAP EPS of $3.50 to $3.60. In addition, we remain on track to spin off the CMP businesses later this year and intend to file the Form 10 registration statement with the Securities and Exchange Commission during our fiscal third quarter."


    Q2 FY09 SUMMARY

                                 Q2 FY09            Q2 FY08          Y/Y
    Revenue                     $25.1 billion      $23.3 billion      8%

    GAAP Operating E
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SOURCE Cardinal Health, Inc.
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