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Cardinal Health Sales Down 13% in 3Q

Cardinal Health (NYSE: CAH), Dublin, OH, reported sales for the third quarter of $21.4 billion, a decrease of 13 percent. Profit increased 7 percent to $508 million.

For the first nine months of the fiscal year, sales were $68.2 million a 9 percent decrease from the previous year. The company reported a profit of $1.5 million, an increase of 4 percent from the same period in 2013.

"Our organization delivered a solid third quarter to our fiscal 2014, completing a first nine months of strong financial performance.” said George Barrett, chairman and CEO. "During the recent period, we strengthened our medical preferred products program with the announcement of the acquisition of AccessClosure and enhanced our specialty solutions capabilities with the acquisition of Sonexus Health."

Revenue for the pharmaceutical segment increased 7 percent to $2.7 billion and profit decreased 9 percent to $452 million. Revenue for the medical segment was up 13 percent to $2.8 billion and profit increased 11 percent to $111 million.

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