CareFusion 1Q profit rises on medical system sales
Medical device maker CareFusion Corp. said Monday its profit rose 76 percent in the fiscal first quarter on stronger sales from its medical systems business.
In the three months ended Sept. 30, CareFusion said its profit increased to $67 million, or 30 cents per share, from $38 million, or 17 cents per share. Excluding one-time items, CareFusion said its profit came to 33 cents per share. Its revenue grew 4 percent, to $844 million from $811 million.
Analysts expected the company to report a profit of 33 cents per share and $839 million in revenue, according to FactSet.
CareFusion said its medical system revenue rose 9 percent to $509 million on greater sales of dispending technologies and infusion systems. Procedural solutions revenue fell 2 percent to $335 million after the company sold its OnSite Services business in March.
The company said it still expects a profit of $1.80 to $1.90 in fiscal 2012. Analysts expect $1.84 per share on average.
CareFusion shares rose 5 cents to $25.31 in Monday trading.