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Cardinal Health (NYSE: CAH), Dublin, OH, reported sales of $25.9 billion for the fiscal first quarter ended Sept. 30, 2012, a 3 percent decline from the same period a year ago. Profit increased 15 percent to $271 million.
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“As we had expected, revenue was down, as a result of the pharmaceutical industry's wave of brand-to-generic conversions. Our margin expansion continued to be strong, led by our Pharmaceutical segment and fueled by excellent contribution from our generic programs,” George Barrett, chairman and CEO said.
“Our Medical segment started the year more slowly than we planned, largely due to lighter than expected procedure volumes and some continued operational cleanup of our major systems and process transformation,” Barrett said.