Cardinal Health's(CAH Quote) fourth-quarter earnings slid 27% from a year ago due to big charges for restructuring and legal costs. The pharmaceuticals industry supplier guided its current fiscal year in line with estimates.
Cardinal earned $287.2 million, or 66 cents a share, in the quarter, compared with $393.5 million, or 90 cents a share, a year ago. The latest quarter included charges for restructuring, mergers, litigation and legal expenses totaling $52 million, or 12 cents a share, plus a separate charge of $44 million, or 11 cents a share, for writedowns and other issues.
Backing out the charges, Cardinal earned 89 cents a share in the quarter, matching the Thomson First Call consensus. Cardinal's fourth-quarter revenue rose 15% from a year ago to $19.5 billion, above the $19.26 consensus. ...
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