The 2020 Mid-Year Economic Update_long

Cardinal Health Sales Down 10% in Fiscal 2014

Fiscal fourth-quarter sales down 10 percent year-over-year.

Cardinal Health (NYSE: CAH), Dublin, OH, reported sales for the fiscal year 2014 of $91.1 billion, a decrease of 10 percent year-over-year. The company reported a profit of $1.2 billion, compared to a profit of $335 million in 2013.

"We made significant progress on our strategic priorities: launching the largest generic purchasing entity in the U.S. through our joint venture with CVS Caremark, expanding our position and capabilities in specialty, substantially increasing our line of consumable medical products, taking significant steps to enhance our program on physician preference items in both cardiovascular and orthopedics, enlarging our footprint in the home and showing continued strong growth in China," said CEO George Barrett.

For the fiscal year 2014, revenue for the pharmaceutical segment decreased 12 percent to $80.1 billion and profit increased 1 percent to $1.7 billion. Revenue for the medical segment was up 9 percent to $11 billion and profit increased 19 percent to $444 million.

For the fiscal fourth quarter, total sales were $22.9 billion, down 10 percent year-over-year. The company reported a profit of $234 million, compared to a loss of $586 million in the fourth quarter of 2013.

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