Cardinal Health Inc. (NYSE: CAH), Dublin, OH, reported sales for the fiscal year ended June 30, 2013, of $101.1 billion, a decrease of 6 percent compared to the prior year. Profit fell 69 percent to $334 million.
For the fourth quarter, sales were $25.4 billion, a decrease of 5 percent from the fourth quarter of 2012. Cardinal reported a loss of $586 million, compared to a year-ago profit of $236 million.
Fourth-quarter revenue for the pharmaceutical segment decreased 6 percent to $22.8 billion due to the continuing impact of the fiscal 2013 second-quarter expiration of the Express Scripts contract. The decrease was partially offset by revenues from expanded customer relationships. Segment profit for the quarter increased 11 percent to $395 million. For the full year, revenue for the segment decreased 7 percent to $91.1 billion, and segment profit increased 11 percent to $1.7 billion.
Fourth-quarter revenue for the medical segment increased 11 percent to $2.7 billion, fueled by the recent acquisition of AssuraMed. Segment profit for the quarter increased 31 percent to $104 million. For the full year, medical segment revenue increased 4 percent to $10.1 billion, and segment profit increased 12 percent to $372 million.