Medical/pharmaceutical supplier McKesson had a good fiscal year 2015 across many of its operations, but its health information technology business continues to struggle.
In the fourth quarter ending March 31, McKesson in its entirety had revenue of $44.9 billion, up 19 percent from the year-ago quarter. And for the full fiscal year, revenue rose 30 percent to $179 billion with GAAP earnings per diluted shares from continuing operations of $7.54, up 24 percent. Further, the company projects 12 to 16 percent in earnings per share for fiscal 2016.
However, the news isnt so good for the Technology Solutions division. Revenue fell 10 percent for the quarter and 8 percent over the fiscal year, attributed to an anticipated decline year-over-year in our hospital software business, the planned elimination of a product line (Horizon) and the previously disclosed wind down of our international technology business, according to the company statement. This revenue decline was partially offset by growth in our other technology businesses.
McKesson expects Technology Solutions revenue to decline to mid-single digit levels during fiscal 2016.
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