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Thursday, November 05, 2009

CareFusion Profit Off 28%; Adjusted Net Up 71%

By Robert Daniel

MarketWatch Pulse

TEL AVIV -- CareFusion Corp., the San Diego medical-device company spun out of Cardinal Health's clinical and medical-product businesses, reported fiscal first-quarter fell 28%, earnings from continuing operations rose 83%, and revenue rose 0.9%. Net income was $81 million, or 37 cents a share, compared with $113 million, or 51 cents, in the year-earlier quarter. From continuing operations, the company earned 25 cents a share against 14 cents. Adjusted earnings in the latest quarter were up 71%, to 39 cents a share. Revenue reached $923 million from $915 million. A survey of analysts by FactSet Research produced consensus estimates of 23 cents of profit on $945.8 million of revenue. The company raised its estimate of earnings for the full year to a range of $1.35 to $1.45 from a range of $1.10 to $1.20.

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