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Last Update: 09-Jan-12 10:02 ET
CareFusion Down 8% On Poor Outlook
CareFusion (CFN $23.46 -2.02) is trading sharply lower this morning after the company issued second quarter earnings and revenue expectations below consensus.
Earlier this morning, the company announced preliminary second quarter results in advance of a presentation this afternoon by Chairman and CEO Kieran T. Gallahue at the annual J.P. Morgan Healthcare Conference.
The company said it expects revenue for its second fiscal quarter, ended Dec. 31, 2011, to be $910-915 mln (Capital IQ consensus $922 mln) and operating income to be $141 million to $146 million. Excluding nonrecurring items, adjusted operating income is expected to be $148 million to $153 million.
CareFusion expects income from continuing operations per diluted share (EPS) for the quarter to be $0.39-0.43, or $0.41-0.45 on an adjusted basis (Capital IQ consensus $0.46). CareFusion continues to expect full-year consolidated revenue for fiscal 2012 to grow 3-5% on a constant currency basis compared to fiscal 2011 revenue of $3.53 billion.
The company lowered the bottom end of its full-year adjusted EPS guidance range by $0.05, to a new range of $1.75 to $1.90.
Earlier this morning, the company announced preliminary second quarter results in advance of a presentation this afternoon by Chairman and CEO Kieran T. Gallahue at the annual J.P. Morgan Healthcare Conference.
The company said it expects revenue for its second fiscal quarter, ended Dec. 31, 2011, to be $910-915 mln (Capital IQ consensus $922 mln) and operating income to be $141 million to $146 million. Excluding nonrecurring items, adjusted operating income is expected to be $148 million to $153 million.
CareFusion expects income from continuing operations per diluted share (EPS) for the quarter to be $0.39-0.43, or $0.41-0.45 on an adjusted basis (Capital IQ consensus $0.46). CareFusion continues to expect full-year consolidated revenue for fiscal 2012 to grow 3-5% on a constant currency basis compared to fiscal 2011 revenue of $3.53 billion.
The company lowered the bottom end of its full-year adjusted EPS guidance range by $0.05, to a new range of $1.75 to $1.90.
