Cardinal Health releases 2009 fiscal-year results

DUBLIN, Ohio A 10% increase in revenue growth and a 15% decrease in earnings from continuing operations were among the highlights for Cardinal Health for fiscal year 2009, the company reported in a recent earnings release.

Revenues increased to $25.2 billion, while earnings from continuing operations decreased to $268 million, the company reported, compared with $22.9 billion in revenues and $316 million in earnings during fiscal year 2008. Meanwhile, healthcare supply chain services segment profits for the fourth quarter increased 8%, to $341 million.

Earnings per share from continuing operations were $3.16 — or $3.48 on a non-GAAP basis, which includes a 3 cent decrease resulting from the discontinuation of operations at Martindale, the company’s United Kingdom-based injectable manufacturing business. The company also plans to spin off CareFusion Corp., its medical technology subsidiary, a process that will be complete after the close of business on Aug. 31. Cardinal expects CareFusion to have earnings per share of between $1.10 to $1.20.

“Fiscal 2009 saw accelerated investments to improve our ability to serve customers, as well as disciplined cost-containment measures, all of which will continue through an important transition year in fiscal 2010,” chairman and CEO R. Kerry Clark said in a statement.