Cardinal's 2016 financial results break records
By HME News Staff
Updated Tue August 2, 2016
DUBLIN, Ohio - Cardinal Health has reported revenues of $31.4 billion for the fourth quarter of fiscal year 2016, a 14% increase compared to the same quarter last year. It reported revenues of $121.5 billion for fiscal year 2016, a 19% increase compared to 2015. “We finished fiscal 2016 having generated the highest revenues, the largest GAAP and non-GAAP operating earnings, and the greatest operating cash flow in our company's history,” said George Barrett, chairman and CEO. “The Cardinal Health team is well-positioned to adapt, innovate and lead during a time of great change in the healthcare industry.” For its medical segment, Cardinal reported revenues of $3.2 billion for the fourth quarter, a 12% increase, and $12.4 billion for 2016, a 9% increase. The company's fiscal year 2017 guidance range for non-GAAP diluted EPS from continuing operations is $5.48 to $5.73, representing growth of about 5% to 9% from the prior year.
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