News

Cardinal quarterly revenue down 7%, earnings-per-share up 15%

BY Michael Johnsen

DUBLIN, Ohio — Cardinal Health on Tuesday posted $25.2 billion in revenue for its 2013 second quarter, down 7%. The company’s non-GAAP diluted earnings per share was up 15% to $0.93. 

"We’ve now completed a strong first half to our fiscal 2013 with a good second-quarter performance. While continued brand-to-generic conversions and the previously announced movement of the Express Scripts contract drove a revenue decline in the pharmaceutical segment, excellent performance from our generic programs and new customer wins fueled profit gains," stated George Barrett, chairman and CEO Cardinal Health. 

Revenue for the pharmaceutical segment decreased 8% to $22.7 billion due to the previously announced non-renewal of the Express Scripts contract as well as expected conversions from branded pharmaceuticals to lower-priced generics. The decline was partially offset by revenues from new pharmaceutical distribution customers. Segment profit increased 12% to $441 million, largely from overall strong performance from generics programs and benefits of customer and product mix within pharmaceutical distribution, partially offset by the impact of continued market softness in our nuclear business.

In addition, the company tightened its fiscal 2013 outlook for non-GAAP diluted EPS from continuing operations to $3.42 to $3.50, which represents the top half of the prior guidance range.


Find us on Facebook for more insight, analysis and the latest in drug store news.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

News

Duane Reade isn’t playing around with participation in virtual gaming experience

BY Michael Johnsen

NEW YORK — Duane Reade on Tuesday announced the Niantic Labs new mobile game Ingress would be integrated across the chain’s more than 250 locations in an effort to increase ‘share of voice’ and customer engagement. Duane Reade, part of the Walgreens family of companies, is one of the first retail partners in the New York Metropolitan area for "Ingress", which blends the physical and virtual world to create a one-of-a-kind gaming experience, Duane Reade stated. 

"Customer engagement strategy via location-based gaming has elevated to new levels and Duane Reade understands that," stated Calvin Peters, PR/online manager for Duane Reade. "Strategically engaging gamification experiences that utilize LBS platforms are becoming increasingly relevant as mobile concentration within the retail space continues to expand. It’s important for us to be where our consumers are, including the virtual world."

An Ingress logo is located on the front window of Duane Reade stores around the city signaling players of the company’s participation and the existence of a value-added game asset located inside the store. Each asset will display its own unique code, which gives players a range of resources for playing the game including energy, offensive and defensive game objects (resonators, weapons, shields) and possibly media objects. Each code may be used only once, but can be shared with each player’s online community. As the game evolves, cooperation across neighborhoods, cities, and countries will be needed to achieve the ultimate victory for either faction.

The game’s premise involves a team of scientists in Europe that have unearthed a mysterious energy called Exotic Matter which is believed to be influencing the way humans think. Players in the game will choose a side, either "The Enlightened" seeking to embrace the power that this energy may bestow or "The Resistance" working to defend and protect against that same power. Once they have picked a side, players will have to move through the real world around them to discover and tap into sources of this energy. They will be able to acquire objects to aid in their quest, deploy technology to capture territory, and ally with other players to advance the cause of their faction.

A global collaborative effort, "Ingress" players can interact with other players around the world, plan their next steps and communicate via an Intelligence map. An Investigation Board filled with cryptic clues and secret codes await each player as the story evolves daily with secrets and game elements ready to be unlocked. 


Find us on Facebook for more insight, analysis and the latest in drug store news.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

News

Safeway names new EVP, CFO

BY DSN STAFF

PLEASANTON, Calif. — Safeway on Monday announced the appointment of Peter Bocian as its new executive vice president and CFO. Bocian, 58, will oversee the company’s financial functions including accounting, tax, audit, treasury, investor relations, planning and business development. He will report directly to Robert Edwards, Safeway’s president, and will assume his new responsibilities on Feb. 19.

Bocian most recently served as EVP head of corporate services and finance at JPMorgan Chase, the New York-based global financial services company.  While at JPMorgan Chase, he had overall responsibility for Global Real Estate, Procurement, Technology and Real Estate Finance and General Services for the firm.

Prior to joining JPMorgan Chase, Bocian spent three years as EVP and chief administrative officer at Palo Alto-based Hewlett-Packard. Before his tenure with HP, he spent over a year as CFO and chief administrative officer at Seattle-based Starbucks. Earlier Bocian had a long and successful 24 years with Ohio-based NCR Corporation, where he held positions of increasing responsibility across finance, working in the retail, teradata and federal system groups. At NCR, he last served, for three years, as SVP and CFO. 

"We are pleased to have attracted someone with Pete’s demonstrated business leadership skills and deep financial credentials to our senior executive team," stated Edwards. "His proven ability to effectively manage a broad cross section of complex finance and administrative functions, as well as his extensive experience with retail-focused companies will be of considerable added value to our business."

Bocian holds a Masters in Business Administration in Accounting and Bachelor of Arts in Russian from Michigan State University, and served in the U.S. Navy.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES