Thursday, Cardinal Health Inc. (CAH) reported second-quarter net income of $234.5 million or $0.65 per share, compared to net income of $316.5 million or $0.88 per share in the same quarter last year.
Earnings from continuing operations increased to $230.2 million or $0.64 per share, from $169.0 million or $0.47 per share in the year ago quarter.
On a non-GAAP basis, earnings from continuing operations increased to $207 million or $0.57 per share from $183 million or $0.51 per share in the prior year quarter.
On average, 17 analysts polled by Thomson Reuters expected the company to earn $0.46 per share for the quarter. Analysts' estimates typically exclude special items.
Revenue for the quarter increased 3% to $24.9 billion from $24.1 billion in the comparable quarter last year. Analysts expected the company to report revenue of $24.77 billion for the quarter.
Looking ahead to the full year 2010, the company raised its earnings outlook and now expects non-GAAP earnings from continuing operations in the range of $2.08 - $2.18 per share, up from the previous guidance range of $1.90 - $2.00 per share. Analysts currently anticipate the company to earn $2.03 per share for the full year.
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