The company reported a 28% increase in profits on a 24% increase in sales during the 3 months ended June 30, 2014. Adjusted earnings came in 9% higher than analysts’ consensus projection.
The device maker also used the occasion of its latest financial report to announce the launch of a new $750 million share repurchase program. The new buyback will take effect as soon as the existing $750 million repurchase is completed, the company said.
"With every business growing in the 4th quarter, we had a very strong finish to the fiscal year and created good momentum for fiscal 2015," chairman & CEO Kieran Gallahue said in prepared remarks. "Our solid organic revenue growth demonstrates the value our products bring to health care facilities and patients, even in times of increasing financial pressures for U.S. hospitals."
In total CareFusion reported $140 million in profits, or 67¢ per diluted share, on sales of $1.12 billion during its 4th quarter. That compared with profits of $109 million, or 49¢ per share, on sales of $903 million during the same period last year. Adjusted per-share earnings came to 79¢, beating analysts’ expectations by 7¢ and increasing 44% year-over-year.
CFN shares got a small boost today, increasing 1.1% to trade at $42.58 as of about 2:10 p.m. EST.