The stock price of CareFusion Corp. fell more than 8 percent during morning trading on Jan. 9 after news of lower financial performance for the second quarter of fiscal 2012 ended Dec. 31.
The San Diego-based vendor of medication management and patient safety products and medical supplies issued preliminary quarterly results in advance of a presentation at the annual J.P. Morgan Healthcare Conference. CareFusion expects adjusted earnings per share of 41 to 45 cents, down from analyst expectations of 46 cents, with revenue of $910-915 million, down from an expected $923 million. The company said its procedural solutions unit, which includes the ChloraPrep preoperative skin antiseptic, was performing well but still below expectations.
CareFusion previously estimated full year earnings per share of $1.80 to $1.90 per share, and now has dropped the bottom end to $1.75. CareFusion's products include the Alaris IV pumps and safety software, Pyxis automated medication dispensing systems and hand-held bar code technology for positive patient identification, MedMined electronic infection surveillance system, and AVEA respiratory care products.
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