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Cardinal Health Reports Third Quarter Results
Date:5/1/2008

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Q3 and FY08 Year-to-Date Summary

Q3 FY08 Q3 FY07 Y/Y FY08 YTD Y/Y

Revenue $22.9 billion $21.9 billion 5% $68.2 billion 6%

GAAP Operating $577 million $(10) million n.m. $1.6 billion 66%

Earnings

Non-GAAP Operating

Earnings(2) $613 million $606 million 1% $1.7 billion 2%

GAAP Earnings from

Continuing

Operations $366 million $(5) million n.m. $1 billion 65%

Non-GAAP Earnings

from Continuing

Operations(3) $390 million $390 million - $1 billion -

GAAP Diluted EPS

from Continuing

Operations $1.02 $(0.01) n.m. $2.72 85%

Non-GAAP Diluted EPS

from Continuing

Operations $1.08 $0.96 13% $2.83 11%

Third quarter segment results

Healthcare Supply Chain Services Sector

The Healthcare Supply Chain Services - Pharmaceutical segment reported a 3 percent increase in revenue to $19.9 billion. Sales to bulk customers increased 8 percent to $9.1 billion, while sales to non-bulk customers were even with the prior year at $10.8 billion. Revenue growth was dampened by several factors, including customer disruption as the company enhances anti-diversion controls and strengthens its offerings, and by slower overall market growth. Segment profit declined 21 percent to $300 million, primarily from the continued impact of re-pricing several large contracts and the impact of anti-diversion initiatives.

Revenue for the Healthcare Supply Chain Services - Medical segment grew 8 percent to $2.1 billion, with increased sales penetration and growth of existing hospital, lab and ambulatory customers. As expected, the segment returned to positive profit growth during the quarter, with profit increasing 5 percent to $93 million, driven by increased sales volume
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SOURCE Cardinal Health, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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