CareFusion Reports First Quarter Results, Raises Full-Ye...((R&D) and restructuring and acquisit...),Health

Date:11/5/2009

(R&D), and restructuring and acquisition integration charges totaled $334 million or 36 percent of total revenue. Excluding $17 million of one-time items, adjusted operating expenses totaled $317 million, or 34 percent of total revenue. SG&A expenses on an adjusted basis of $281 million and R&D investments of $36 million or 4 percent of revenue were both even with the prior year period.

Adjusted earnings, adjusted net income, adjusted operating earnings, adjusted operating expenses and adjusted segment profit are non-GAAP financial measures and exclude restructuring and acquisition integration charges, one-time spinoff related costs, non-recurring tax items, and discontinued operations. Adjusted net income also excludes one-time costs related to the bridge loan entered into in connection with the spinoff. A reconciliation of GAAP to non-GAAP measures is included later in this news release.

Critical Care Technologies

Revenue for the Critical Care Technologies segment, which includes the company's Dispensing, Infusion and Respiratory businesses, totaled $617 million, even with the prior year period, or increased 2 percent on a constant currency basis. Segment profit increased 35 percent to $101 million. Adjusted segment profit increased 16 percent to $112 million, driven by gross margin improvements and savings from the March 2009 global workforce reduction program, which were partially offset by incremental operating costs from standing up as a public company.

Medical Technologies and Services

Revenue for the Medical Technologies and Services segment, which includes the company's Infection Prevention and Medical Specialties businesses, increased 3 percent to $306 million, or 8 percent on a constant currency basis, driven by increased sales of non-invasive surgical products, sales of ChloraPrep® skin antiseptic product and international distribution sales. Segment prof
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SOURCE CareFusion Corporation Copyright©2009 PR Newswire. All rights reserved

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