DUBLIN, Ohio, Sept. 14 /PRNewswire-FirstCall/ -- In advance of its
annual investor meeting, Cardinal Health, a global provider of products and
services that improve the safety and productivity of health care,
reaffirmed its earnings-per-share (EPS) target for the fiscal year and
updated the profit outlook for its operating segments.
The company said non-GAAP EPS from continuing operations(1) is still
expected to exceed the long-term goal of 12 to 16 percent growth it set in
June, finishing the year in a range of $3.95 to $4.15 per share.
To reflect an industry-wide moderation in the sale of prescription
drugs, the company revised the outlook for its Supply Chain Pharmaceutical
segment, which is now expected to grow profit during the year in line with
its long-term goal of 7 to 10 percent growth. Cardinal Health previously
said profit growth for this segment was expected at the top end of the
long-term range.
Financial targets remain unchanged for the company's three other
operating segments.
"While market factors led us to revise our outlook for the Supply Chain
Pharma segment, the strength of our Clinical and Medical Products
businesses allow us to maintain our EPS guidance range for the full year,"
said R. Kerry Clark, chief executive officer of Cardinal Health. "The
diversity of our portfolio is a key differentiator, offering stable growth
and strong cash flow in our core supply chain services sector, and faster
growth with higher returns in our clinical and medical products sector."
The company will host its annual meeting for invited investment
professionals and financial analysts on Sept. 19 in New York. More
information about the meeting may be found on the investor page of
http://www.cardinalhealth.com.
About Cardinal Health
Headquartered in Dublin, Ohio, Cardinal Health, Inc. (NYSE: CAH) is an
$87 billion, global company serving the health-care industry with products
and services that help hospitals, physician offices and pharmacies reduce
costs, improve safety, productivity and profitability, and deliver better
care to patients. With a focus on making supply chains more efficient,
reducing hospital-acquired infections and breaking the cycle of harmful
medication errors, Cardinal Health develops market-leading technologies,
including Alaris(R) IV pumps, Pyxis(R) automated dispensing systems,
MedMined(R) data mining software and the CareFusion(TM) patient
identification system. The company also manufactures medical and surgical
products and is one of the largest distributors of pharmaceuticals and
medical supplies worldwide. Ranked No. 19 on the Fortune 500 and No. 1 in
its sector on Fortune's ranking of Most Admired firms, Cardinal Health
employs more than 40,000 on five continents. More information about the
company may be found at http://www.cardinalhealth.com.
1 Non-GAAP diluted EPS from continuing operations: earnings from
continuing operations, excluding special items and impairment charges and
other, both net of tax, divided by diluted weighted average shares
outstanding.
Non-GAAP Financial Measures
The Company presents non-GAAP earnings from continuing operations (and
presentations derived from this financial measure) on a forward-looking
basis. The most directly comparable forward-looking GAAP measure is
earnings from continuing operations. The Company is unable to provide a
quantitative reconciliation of this forward-looking non-GAAP measure to the
most directly comparable forward-looking GAAP measure because the Company
cannot reliably forecast special items and impairment charges and other,
which are difficult to predict and estimate. Please note that the
unavailable reconciling items could significantly impact the Company's
future financial results.
Cautions Concerning Forward-Looking Statements
This news release contains forward-looking statements addressing
expectations, prospects, estimates and other matters that are dependent
upon future events or developments. These matters are subject to risks and
uncertainties that could cause actual results to differ materially from
those projected, anticipated or implied. The most significant of these
uncertainties are described in Cardinal Health's Form 10-K, Form 10-Q and
Form 8-K reports (including all amendments to those reports) and exhibits
to those reports, and include (but are not limited to) the following:
competitive pressures in its various lines of business; the loss of one or
more key customer or supplier relationships or changes to the terms of
those relationships; uncertainties relating to the timing of generic
introductions and the frequency or rate of pharmaceutical price
appreciation; changes in the distribution patterns or reimbursement rates
for health-care products and/or services; uncertainties related to
finalizing the pending settlement of the class-action securities
litigation, including obtaining court approval of the settlement;
successful integration of Cardinal Health and VIASYS Healthcare and the
ability to achieve synergies from the acquisition; and general economic and
market conditions. This news release reflects management's views as of
September 14, 2007. Except to the extent required by applicable law,
Cardinal Health undertakes no obligation to update or revise any forward-
looking statement.
SOURCE Cardinal Health
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Related links:
http://www.cardinalhealth.com/
CONTACT:
Media, Jim Mazzola, +1-614-757-3690,
jim.mazzola@cardinal.com, or Investors, Bob Reflogal,
+1-614-757-7542, bob.reflogal@cardinal.com, both of Cardinal
Health
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