Carefusion Corp Earnings Cheat Sheet: Sees Profit Move Up

S&P 500 (NYSE:SPY) component Carefusion Corporation (NYSE:CFN) saw a profit boost in the first quarter. CareFusion is a medical technology company offering clinically proven products and services designed to improve the safety and quality of healthcare.

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Carefusion Earnings Cheat Sheet for the First Quarter

Results: Net income for Carefusion Corporation rose to $67 million (30 cents per share) vs. $38 million (17 cents per share) in the same quarter a year earlier. This marks a rise of 76.3% from the year earlier quarter.

Revenue: Rose 4% to $844 million.

Actual vs. Wall St. Expectations: CFN reported adjusted net income of 33 cents per share. By that measure, the company fell in line with the mean estimate of 33 cents per share. Analysts were expecting revenue of $840.4 million.

Quoting Management: “Our revenue and adjusted earnings per share growth for the quarter was driven by increased sales in our Dispensing Technologies and Infusion Systems businesses and the benefit from a lower tax rate,” said Kieran Gallahue, chairman and CEO. “During the quarter, we transitioned from our stand-up phase to our foundation building stage, and made progress in our efforts to simplify how we do business and invest in areas to help expand margins and accelerate our top line growth. Today, we are reaffirming our full-year adjusted diluted earnings per share guidance for fiscal 2012 of $1.80 to $1.90 and revenue growth of three to five percent over fiscal 2011 on a constant currency basis.”

Key Stats:

The company fell in line with estimates last quarter after topping expectations in the previous two quarters. In the fourth quarter of the last fiscal year, it topped the mark by one cent, and in the third quarter of the last fiscal year, it was ahead by 2 cents.

Looking Forward: Expectations for the company’s next quarter performance are higher than they were ninety days ago. Over the past three months, the average estimate for the second quarter has risen to 47 cents per share from 46 cents. For the fiscal year, the average estimate has moved down from $1.88 a share to $1.85 over the last ninety days.

Competitors to Watch: Teleflex Incorporated (NYSE:TFX), Covidien plc (NYSE:COV), Thermo Fisher Scientific Inc. (NYSE:TMO), Cardinal Health, Inc. (NYSE:CAH), Masimo Corporation (NASDAQ:MASI), Angeion Corporation (NASDAQ:ANGN), NeuroMetrix, Inc. (NASDAQ:NURO), Baxter International Inc. (NYSE:BAX), C.R. Bard, Inc. (NYSE:BCR), and Stryker Corporation (NYSE:SYK).

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)