SAN DIEGO, Aug. 9, 2012 /PRNewswire/ -- CareFusion Corp. (NYSE: CFN), a leading, global medical technology company, today reported results for the quarter and fiscal year ended June 30, 2012.
"Fiscal 2012 was an important year in the company's transformation, as we worked to build our foundation for long-term growth," said Kieran Gallahue, chairman and CEO. "I am proud of our team for the progress we made this year to optimize our portfolio, simplify the complexity of our infrastructure, and reduce administrative expenses to fund R&D and other growth initiatives.
"Our fourth quarter results once again highlighted the strength of our Medical Systems segment, which delivered strong performance throughout the year. The Procedural Solutions segment performed in line with our expectations and continued to make the necessary changes to enable future segment growth. Overall, we finished the year well-positioned to execute on our fiscal 2013 objectives, as we deploy capital to invest in long-term growth."
Fourth Quarter ResultsThe company reported revenue for the fourth quarter of fiscal 2012 of $968 million, compared to $940 million in the fourth quarter of fiscal 2011, an increase of 3 percent on a reported basis and 4 percent on a constant currency basis.
Operating income was $176 million, an increase of 18 percent compared to $149 million in the prior year period. Excluding nonrecurring items, adjusted operating income rose 2 percent to $183 million. For the quarter, adjusted operating income was 18.9 percent of revenue.
Operating expenses totaled $313 million, a decrease of 7 percent over the prior year period. Excluding nonrecurring items, adjusted operating expenses decreased 1 percent to $306 million. During the quarter, the company increased investments in research and development by 21 percent to $46 million, funded in part by
|SOURCE CareFusion Corp.|
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