CareFusion Announces Preliminary Second Quarter Results

CareFusion Corporation (NYSE: CFN) today announced preliminary second quarter results in advance of a presentation this afternoon by Chairman and CEO Kieran T. Gallahue at the annual J.P. Morgan Healthcare Conference.
The company said it expects revenue for its second fiscal quarter, ended Dec. 31, 2011, to be $910 million to $915 million and operating income to be $141 million to $146 million. Excluding nonrecurring items, adjusted operating income is expected to be $148 million to $153 million. CareFusion expects income from continuing operations per diluted share (EPS) for the quarter to be $0.39 to $0.43, or $0.41 to $0.45 on an adjusted basis.
CareFusion continues to expect full-year consolidated revenue for fiscal 2012 to grow 3 to 5 percent on a constant currency basis compared to fiscal 2011 revenue of $3.53 billion. The company lowered the bottom end of its full-year adjusted EPS guidance range by $0.05, to a new range of $1.75 to $1.90.
"Our Medical Systems segment continues to anchor us, with strong bookings in the quarter and good visibility through the second half of the year," said Gallahue. "While we continue to have scenarios that enable us to meet our original, full-year EPS commitments, results in our Procedural Solutions segment through Q2 are softer than we forecasted. Our core procedural products, including ChloraPrep® and non-dedicated infusion disposables, are performing well and growing faster than the market, just slightly below our expectations. In addition, our margins in the segment were negatively affected by pricing pressure on our less clinically differentiated products. During the quarter, we continued to make good progress with our simplification initiatives and remain committed to our long-term goals."