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CareFusion Reports Preliminary First Quarter Fiscal 2013 Results
Date:11/8/2012

iness, as well as the competitive landscape, remain unchanged. The company continues to execute well with the rollout of its new product platform and expand its business outside the U.S.

Procedural SolutionsFirst quarter revenue for the Procedural Solutions segment was $286 million, an increase of 1 percent from the prior year period. Segment profit increased 24 percent to $41 million, a 14 percent increase to $48 million on an adjusted basis.

Within the segment, revenue for the Infection Prevention business unit reached $144 million, a 4 percent increase from the prior year period based on strong sales growth of the company's clinically differentiated preoperative skin preparation and infusion specialty disposables product lines.

Contributions from the June 2012 acquisition of U.K. Medical and growth in the company's clinically differentiated interventional specialties portfolio drove a 3 percent increase in revenue in the Medical Specialties business unit to $80 million from $78 million in the prior year period.

As expected, revenue in the Specialty Disposables business unit declined, closing the quarter at $62 million, or 6 percent lower than the prior year period, as the company transitions its business model and portfolio of products.

Additional financial results Operating expenses during the quarter totaled $293 million, a decrease of 5 percent from the prior year period. Excluding nonrecurring items and amortization of acquired intangibles, adjusted operating expenses decreased 1 percent to $276 million.

Selling, general and administrative (SG&A) expenses also fell during the quarter to $244 million, an 8 percent decrease from the prior year period. These ongoing cost-savings initiatives helped fund additional investments in research and development, which increased 27 percent to $47 million during the quarter. Adjusted SG&A expenses were $229 million, decreasing 5 percent from $242 milli
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SOURCE CareFusion Corp.
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