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CareFusion Reports First Half Fiscal 2013 Results
Date:2/7/2013

SAN DIEGO, Feb. 7, 2013 /PRNewswire/ -- CareFusion Corp. (NYSE: CFN), a leading, global medical technology company, today reported results for the three and six months ended Dec. 31, 2012.

"Our consolidated first and second quarter financial results were led by strong performance across the Procedural Solutions segment, where each business is delivering positive gains and executing well," said Kieran T. Gallahue, chairman and CEO. "In Medical Systems, the first half shaped up about as we expected, with Infusion Systems performing slightly ahead of our plans. 

"At the same time, we continued to make progress against our strategic goals, expanding operating margins while investing in innovation, new markets and other priorities that will help us accelerate our growth over the long-term."  

Second Quarter ResultsThe company reported revenue for the second quarter of fiscal 2013 of $909 million, compared to $890 million in the second quarter of fiscal 2012, an increase of 2 percent on a reported and constant currency basis.

Operating income was $171 million, an increase of 20 percent compared to $143 million in the prior year period. Excluding nonrecurring items, adjusted operating income for the second quarter grew 12 percent to $189 million, or 20.8 percent of revenue, driven primarily by gross margin expansion.

Operating expenses totaled $300 million in the second quarter. Excluding amortization of acquired intangibles and nonrecurring items, adjusted operating expenses were $282 million, an increase of 1 percent over the prior year period. During the quarter, the company continued to increase investments in research and development, which were primarily funded by decreases in corporate overhead and selling, general and administrative (SG&A) expenses.

The company reported income from
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SOURCE CareFusion Corp.
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