Cardinal Health (CAH) Sales and Profits From Continuing Ops Rise In Q1
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Cardinal Health, Inc. (NYSE: CAH) reported first-quarter earnings of 54 cents, excluding one-time items, 11 cents better than the market consensus of 43 cents per share.
Revenue for the Company in the quarter rose 6 percent from the year ago quarter to $24.80 billion, slightly above the analyst estimate of $24.04 billion.
The earnings for Cardinal Health from continuing operations rose 15 percent from the same quarter last year. The medical segment of the Company saw a profit growth of 17 percent.
The Company now expects the adjusted full year earnings to be at the high end of its forecast of $1.90 to $2.00. Analysts estimate a 2010 fiscal year earnings of $1.95 for the hospital products maker.
Cardinal Health reported a net loss on Thursday due to one-time restructuring, impairment and other costs that have been associated with its spinoff of the CareFusion Corp. The net loss for the Company totaled $38.2 million or 11 cents per share for the third quarter.
"I am pleased with our strong results during the first quarter while executing the spinoff and establishing CareFusion as a public company," said David Schlotterbeck, chairman and CEO of CareFusion. "While the hospital capital equipment markets remained challenging, we executed well, grew our top and bottom lines, and expanded margins against a very strong first quarter in the prior year."
Shares of Cardinal Health have moved up 1.75 percent to $29.64 in the current market.
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