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Cardinal Health Reports Fiscal 2013 Second-Quarter Results
Date:2/5/2013

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$0.81

 

15%SEGMENT RESULTSPharmaceutical segmentRevenue for the Pharmaceutical segment decreased 8 percent to $22.7 billion due to the previously announced non-renewal of the Express Scripts contract as well as expected conversions from branded pharmaceuticals to lower-priced generics. The decline was partially offset by revenues from new pharmaceutical distribution customers. Segment profit increased 12 percent to $441 million, largely from overall strong performance from generics programs and benefits of customer and product mix within pharmaceutical distribution, partially offset by the impact of continued market softness in our nuclear business.Q2 FY13Q2 FY12Y/YRevenue

$22.7 billion

$24.7 billion

(8%)Segment Profit

$441 million

$394 million

12%Medical segmentRevenue for the Medical segment increased 3 percent to $2.5 billion, reflecting the benefits of last year's acquisition of FutureMed and one additional sales day year-on-year. Excluding these drivers, year-on-year revenue growth was flat, reflecting continued softness in key U.S. markets, particularly as it relates to procedural volume. Segment profit increased 11 percent to $94 million driven by the favorable impact of commodities, acquisitions and preferred product mix. The increase was partially offset by customer mix and continued volume softness.

The overall profit impact of our Medical Business Transformation for the quarter was slightly negative, including year-over-year incremental depreciation and program expenses, realized benefits, and a $5 million favorable out-of-period adjustment as part of continued cleanup from the conversion to the new platform.Q2 FY13Q2 FY12Y/YRevenue

$2.5 billion

$2.4 billion

3%Segment Profit

$94 million

$85 million

11%ADDITIONAL SECOND-QUARTER AND RECENT HIGHLIGHTS

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