(RTTNews) - CareFusion Corp. (CFN), the medical equipment company spun off from Cardinal Health in September, released its first earnings report as an independent company.
Net income for the first quarter declined to $81 million, or 37 cents a share, from $113 million, or 51 cents a share in the year-ago period, which was helped by higher profits from discontinued operations. Earnings per share from continuing operations rose to 25 cents from 14 cents.
Excluding one-time items, the company said its adjusted net profit for the quarter rose to $0.39 per share from $0.23 last year. Analysts were looking for earnings of 26 cents per share.
Revenue increased 0.9% to $923 million from $915 million last year, while gross margin expanded to 48.9% from 47.8%.
Looking ahead, the company raised its fiscal 2010 earnings per share expectations to $1.35 to $1.45, up from its August view of $1.10 to $1.20.
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