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CareFusion Reports Second Quarter Fiscal 2011 Results
Date:2/3/2011

SAN DIEGO, Feb. 3, 2011 /PRNewswire/ -- CareFusion Corp. (NYSE: CFN), a leading, global medical technology company, today reported results for the three and six months ended Dec. 31, 2010.

"Our strong second quarter results were driven by increased sales in our Infusion, Dispensing and Infection Prevention businesses, and a benefit from a lower tax rate," said David Schlotterbeck, CareFusion's outgoing chairman and CEO, who had announced in November 2010 his plans to retire. On Feb. 1, the company announced Kieran T. Gallahue as Schlotterbeck's successor. "We exceeded our internal earnings expectations for the first half of fiscal 2011, and overcame prior year period benefits from sales related to H1N1 and our Alaris® System ship hold release. Committed contracts booked during the quarter were at or near record levels in the Infusion and Dispensing businesses, giving us positive momentum into the second half of fiscal 2011 and even into fiscal 2012.

"We are updating our fiscal 2011 financial outlook to reflect the revenue and EPS impact of the divesture of our International Surgical Products (ISP) and OnSite Services businesses, as well as a reduction in our Infusion revenue estimates as the expected timing of pump conversions shifts sales from fiscal 2011 to fiscal 2012.

"For fiscal 2011, we are now expecting adjusted diluted EPS in the range of $1.58 to $1.65, which includes absorbing approximately $0.07 dilution from the divestitures of ISP and OnSite, and lowering our revenue growth guidance from mid single digits to low single digits growth."

Agreement to Divest of International Surgical Products BusinessCareFusion announced today that it has signed an agreement to sell its ISP business to Medline Industries, Inc. For the full fiscal year 2011, revenues and earnings per share associated with the ISP business are estimated to be $440 mil
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SOURCE CareFusion Corp.
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