Healthcare services provider Cardinal Health Inc. (CAH) said its third-quarter earnings from continuing operations grew to $346 million, or $1.00 per share, from $332 million, or $0.95 per share, with non-GAAP earnings from continuing operations climbing to $412 million, or $1.20 per share, from $327 million, or $0.94 per share, a year back. On average, 16 analysts polled by Thomson Reuters expected earnings per share of $0.95 for the quarter. Analysts' estimates typically exclude one-time items.
The firm clocked revenue of $24.6 billion in the latest quarter, down 9% compared with the prior-year figure of $26.9 billion, while 13 analysts estimated revenues of $24.72 billion for the quarter.
For fiscal 2013, the company raised its non-GAAP earnings per share from continuing operations outlook to $3.67 - $3.71, from its prior view of $3.42 to $3.52. The revised range includes the $0.18 tax settlement previously mentioned. Analysts estimate earnings per share of $3.50 for fiscal 2013.
Additionally, the board approved a 10 percent increase in its quarterly dividend to $0.3025 per share, or $1.21 per share on an annualized basis, payable on July 15, 2013 to shareholders of record at close of business on July 1, 2013.
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