Cardinal Health Tops Q1 Estimates

Cardinal Health (CAH 29.42, +0.30) reported first quarter earnings results Thursday morning that beat Wall Street estimates.

The company reported first quarter earnings of $0.54 per share, which was $0.11 better than the $0.43 First Call consensus. The $0.54 excluded charges related to the spinoff of CareFusion Corp.

Revenues rose 6% year-over-year to $24.78 billion, higher than the consensus of $24.04 billion.

For fiscal year 2010, the company expects that its full-year performance will likely be toward the higher end of its guidance of non-GAAP $1.90 to $2.00, which is in-line with the $1.95 consensus.

A key contributor to quarterly profit was 17% profit growth in the company's Medical segment, a lower-than-anticipated segment profit decline of 2% from its Pharmaceutical segment and disciplined expense management across the company.