CareFusion's Q2 sales, earnings rise

February 8, 2013 by MassDevice staff

CareFusion reports fiscal 2nd-quarter sales and profit growth, just beating Wall Street's earnings expectations, and maintains its fiscal 2013 outlook.


CareFusion (NYSE:CFN) maintained its sales outlook for the rest of fiscal 2013 after reporting sales and profit growth for its 2nd quarter.

The healthcare giant posted profits of $108 million, or 48¢ per share, on sales of $909 million for the 3 months ended Dec. 31, 2012, for profit growth of 13.7% on a top-line gain of 2.1%.

Adjusted to exclude 1-time items, earnings per share were 54¢, a penny ahead of Wall Street's consensus call.

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Investors reacted sluggishly to the news, sending CFN shares up a hair to $32.08 apiece as of about 11:30 a.m. today.

"Our consolidated first and second quarter financial results were led by strong performance across the Procedural Solutions segment, where each business is delivering positive gains and executing well," chairman & CEO Kieran Gallahue said in prepared remarks. "In medical systems, the first half shaped up about as we expected, with infusion systems performing slightly ahead of our plans. At the same time, we continued to make progress against our strategic goals, expanding operating margins while investing in innovation, new markets and other priorities that will help us accelerate our growth over the long-term."

CareFusion maintained its fiscal 2013 sales guidance of 1%-3% on a constant-currency basis, with adjusted EPS of $2.11-$2.21.