Fiscal 3Q Sales for Cardinal Health Down 8.8%

A Pharmaceutical decline more than offset a Medical increase.

Cardinal Health Inc. (NYSE: CAH), Dublin, OH, reported sales for the  third quarter ended March 31, 2013, were $24.6 billion, an 8.8 percent decrease compared to the same period a year earlier. Profit increased 4 percent to $345 million.

"Both our Pharmaceutical and Medical segments reported double-digit profit growth. Our organization is successfully innovating and adapting our business lines and portfolio to an evolving market, with a focus on establishing a strategic edge in areas of higher growth. This was highlighted during the quarter with the acquisition of AssuraMed which will enable us to follow the care of patients to the home," said George Barrett, chairman and CEO.

Sales for the Pharmaceutical segment decreased 10 percent year-over-year, to $22.1 billion. Medical segment sales increased 3 percent to $2.5 billion.

For the first nine months, sales for Cardinal Health were $75.7 billion, a 6 percent decline from 2012 levels. Profit increased 11 percent to $920 million.

 

 

 

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