The San Diego-based medical device maker reported profits of $31 million, or 13¢ per diluted share, on sales of $919 million during the 3 months ended March 31, a top-line gain of 9.1%.
And although that’s a 31.1% bottom-line plunge compared with Q3 2011, CareFusion said its EPS took a 32¢ hit from its $58 million deal to sell its Nicolet neurodiagnostics unit to Natus Medical (NSDQ:BABY). Adjusted to exclude 1-time items, EPS reached 49¢, beating The Street’s expections by 4¢.
That plus the boosted guidance for FY2012 sales growth was enough to send CFN shares to $27.26 May 4, its highest mark in a year, before closing at $27.09, up 5.0% on the day.
"We continued to make good progress during the quarter on strategies to optimize our portfolio, simplify the complexity of our infrastructure and reduce expenses to fund growth initiatives," chairman & CEO Kieran Gallahue said in prepared remarks.
CareFusion said it expects to post revenue growth of 4% to 5% this year, up from prior guidance of 3%-5%, and tightened the high end of its adjusted EPS forecast from $1.75-$1.85 to $1.75-$1.80.
The Long Island City, N.Y.-based firm posted profits of $30.5 million, or 54¢ per share, on sales of $231.9 million during the 3 months ended March 31.
That compares with profits of $29.3 million, or 51¢ per share, on sales of $214.7 million during the same period last year.
The Irvine, Calif.-based company posted losses of $487,000, or 15¢ per share, on sales of $4.5 million during the 3 months ended March 31.
That compares with profits of $868,000 , or 26¢ per share, on sales of $6.9 million during the same period last year.