Tuesday, February 9, 2010

Carefusion Reports

Portfolio holding Carefusion (CFN) reported earnings after the bell today.  I just had time for a quick glance at the numbers, and I'll listen to the call later today, but I wanted to get a quick post up here.  At first glance, the numbers look pretty solid with a beat on revenue, and EPS excluding non-recurring items.  They also raised revenue and net income guidance for FY 2010.  Overall, nice to see this report, but we'll have to see the reaction the market gives because lately it has been selling numbers like this, so we'll see.  Some commentary from the CEO:

"We continued to execute well during our second quarter and performed ahead of our expectations," said David Schlotterbeck, chairman and CEO of CareFusion. "Hospital capital spending made modest improvements during the quarter and we continued to win key customer contracts. We also benefited in our respiratory business from government and hospital flu preparedness planning.

"As I look ahead to the second half of the fiscal year, we will make progress on our long-term plans for growth, stepping up our investments in R&D and sales and marketing to grow our key franchises and extend into important market adjacencies."

Disclosure: Long CFN

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