DUBLIN, Ohio (AP) — Cardinal Health Inc.'s fiscal second-quarter net income climbed 16 percent, as generic drugs helped improve profitability for the health care products distributor
The Dublin, Ohio, company, which distributes pharmaceuticals and medical products and makes products like gloves and gowns for surgery, also on Tuesday raised the low end of its fiscal 2013 earnings forecast.
Cardinal's profit rose to $303 million, or 88 cents per share, in the three months that ended Dec. 31, from $262 million, or 75 cents per share, in the prior year's quarter. Adjusted earnings totaled 93 cents per share, excluding one-time costs like acquisition expenses.
Revenue fell 7 percent to $25.23 billion from $27.08 billion.
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