Cardinal Health Reaffirms Fiscal 2008 EPS Guidance, Updates Segment Profit Outlook
The company still expects to exceed long-term goal of 12 to 16 percent growth.
DUBLIN, Ohio.— In advance of its annual investor meeting, Cardinal Health, a global provider of products and services that improve the safety and productivity of health care, reaffirmed its earnings-per-share (EPS) target for the fiscal year and updated the profit outlook for its operating segments.
To reflect an industry-wide moderation in the sale of prescription drugs, the company revised the outlook for its Supply Chain Pharmaceutical segment, which is now expected to grow profit during the year in line with its long-term goal of 7 to 10 percent growth. Cardinal Health previously said profit growth for this segment was expected at the top end of the long-term range.
Financial targets remain unchanged for the company’s three other operating segments.
“While market factors led us to revise our outlook for the Supply Chain Pharma segment, the strength of our Clinical and Medical Products businesses allow us to maintain our EPS guidance range for the full year,” said R. Kerry Clark, chief executive officer of Cardinal Health. “The diversity of our portfolio is a key differentiator, offering stable growth and strong cash flow in our core supply chain services sector, and faster growth with higher returns in our clinical and medical products sector.”
The company will host its annual meeting for invited investment professionals and financial analysts on Sept. 19 in New York. More information about the meeting may be found on the investor page of cardinalhealth.com.
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