Second Quarter ResultsCareFusion's reported results compare to the three and six month periods ended Dec. 31, 2009.
The company reported revenue for the second quarter of fiscal 2011 of $1,002 million, compared to $1,019 million in the second quarter of fiscal 2010, a decrease of 2 percent on a reported basis or 1 percent on a constant currency basis after adjusting for an $8 million unfavorable foreign currency impact. The year-over-year decline was driven primarily by lower sales in the company's Respiratory business.
Operating income was $126 million, down 1 percent compared to $127 million in the prior year period. Excluding nonrecurring items, adjusted operating income for the second quarter increased to $155 million from $149 million.
Operating expenses, including selling, general and administrative (SG&A), research and development (R&D) and restructuring and acquisition integration charges in the second quarter totaled $349 million, or 35 percent of total revenue. Excluding nonrecurring items, adjusted operating expenses in the second quarter totaled $320 million, or 32 percent of total revenue. Adjusted SG&A expenses were $284 million and R&D investments totaled $36 million.
The company reported income from continuing operations in the second quarter of $76 million, or $0.34 per diluted share. Adjusted income from continuing operations was $98 million, or $0.44 per diluted share, and the adjusted tax rate was 26.8 percent for the second quarter.
|SOURCE CareFusion Corp.|
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