Dublin, OH-based drug distributor Cardinal Health, reported revenue for fiscal year 2008 improved 5% to $91 billion over the prior year. Profit was $1.3 billion, a 32% decrease from fiscal year 2007. Earnings for the year were negatively impacted by a $600 million expense to resolve securities litigation.
For the fourth quarter, sales were $22.9 billion, an increase of 3% in a year-over-year comparison. Profit was $326.6 million, a decrease of 64% from fourth quarter 2007.
The medical supply chain segment improved profit in the second half of the year, driven by double-digit growth in its core U.S. medical distribution business. Combined revenue for the Clinical Technologies and Services, and Medical Products and Technologies segments grew by 24% to $5.6 billion …
Cardinal Health Sales Up 5% in Fiscal 2008
Dublin, OH-based drug distributor Cardinal Health, reported revenue for fiscal year 2008 improved 5% to $91 billion over the prior year. Profit was $1.3 billion, a 32% decrease from fiscal year 2007. Earnings for the year were negatively impacted by a $600 million expense to resolve securities litigation.
For the fourth quarter, sales were $22.9 billion, an increase of 3% in a year-over-year comparison. Profit was $326.6 million, a decrease of 64% from fourth quarter 2007.
The medical supply chain segment improved profit in the second half of the year, driven by double-digit growth in its core U.S. medical distribution business. Combined revenue for the Clinical Technologies and Services, and Medical Products and Technologies segments grew by 24% to $5.6 billion …
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