Cardinal Health, Inc. Announces Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended December 31, 2014; Revised Earnings Guidance for the Second Half of 2015
January 29, 2015 at 12:00 pm
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Cardinal Health, Inc. announced unaudited consolidated financial results for the second quarter and six months ended December 31, 2014. For the quarter, the company reported revenue of $25,537 million against $22,240 million a year ago. Operating earnings was $546 million against $519 million a year ago. Earnings before income taxes and discontinued operations were $451 million against $492 million a year ago. Earnings from continuing operations were $289 million or $0.86 per diluted share against $275 million or $0.80 per diluted share a year ago. Net earnings were $289 million or $0.86 per diluted share against $278 million or $0.80 per diluted share a year ago. Net cash provided by operating activities was $953 million against $37 million a year ago. Additions to property and equipment were $47 million against $64 million a year ago. Return on equity was 18.7% against 17.2% a year ago.
For the six months, the company reported revenue of $49,607 million against $46,763 million a year ago. Operating earnings was $1,012 million against $990 million a year ago. Earnings before income taxes and discontinued operations were $886 million against $934 million a year ago. Earnings from continuing operations were $555 million or $1.65 per diluted share against $614 million or $1.78 per diluted share a year ago. Net earnings were $555 million or $1.65 per diluted share against $617 million or $1.79 per diluted share a year ago. Net cash provided by operating activities was $1,014 million against $988 million a year ago. Additions to property and equipment were $83 million against $90 million a year ago. Return on equity was 25.9% against 19.6% a year ago. Net debt was $1,095 million against $1,193 million a year ago.
Fiscal 2015 outlook for non-GAAP diluted earnings per share from continuing operations raised to $4.28 to $4.38 from prior guidance range of $4.10 to $4.30.
Cardinal Health, Inc. is specialized in the distribution of products and health services to pharmacies, hospitals and medical practices. Net sales break down by activity as follows:
- distribution of pharmaceutical products (92.7%);
- distribution of medical, surgical and laboratory products (7.3%). The group also develops a manufacturing of medical and surgical products activity (masks, overalls, gloves, diagnostic products, products of aspiration and collection of liquids, radiology intervention, respiratory assistance, etc.).
The United States accounts for 97.7% of net sales.
Cardinal Health, Inc. Announces Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended December 31, 2014; Revised Earnings Guidance for the Second Half of 2015