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

. Segment profit growth was dampened by a previously disclosed change in corporate cost allocation and by continued softness in the surgical kitting business.

Clinical and Medical Products Sector

"Our Clinical and Medical products sector continued to deliver strong year-over-year growth, reflecting our leadership positions in medication dispensing, infusion, respiratory and infection prevention products," Clark said. "We will continue to invest in these businesses to strengthen our offerings for the future."

The Medical Products and Technologies segment grew revenue by 48 percent to $679 million, driven by the acquisition of VIASYS Healthcare and strong growth within the core infection prevention and medical specialty businesses. Segment profit grew 72 percent to $80 million on the VIASYS addition, strong organic growth and the benefit of foreign exchange. The VIASYS integration remains on schedule to deliver $85 million to $100 million in synergies by fiscal 2010.

Revenue for the Clinical Technologies and Services segment increased by 11 percent to $747 million, driven by continued growth in customer installations for medication and supply dispensing products and infusion pumps. Segment profit increased by 29 percent to $127 million from a favorable product mix and improved operating leverage from expense management initiatives. Segment profit for the quarter was partially offset by a $6.5 million reserve for a recall of integrated circuits and connectors on certain Alaris(R) System modules. The company believes it is fully reserved for remediation efforts on all Alaris product recalls and expects to complete them by the end of the calendar year.

Additional third quarter and recent highlights

-- Reached a definitive agreement to acquire the assets of privately held

Enturia Inc. for $490 million. The cash transaction includes Enturia's

leading line of infection prevention products sold under the

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

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