Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - CAREFUSION Corp | d8k.htm |
| EX-99.1 - NEWS RELEASE - CAREFUSION Corp | dex991.htm |
| EX-99.3 - INFORMATION DISCLOSED BY CAREFUSION CORPORATION - CAREFUSION Corp | dex993.htm |
 ©
2009 CareFusion Corporation or one of its subsidiaries. All rights reserved. November 5, 2009 Q1 Fiscal 2010 Investor/Analyst Call Exhibit 99.2 |
 © 2009
CareFusion Corporation or one of its subsidiaries. All rights reserved. 2 Forward-Looking Statements and GAAP Reconciliation Forward-Looking Statements and GAAP Reconciliation contains forward-looking statements addressing expectations, prospects, estimates and other
matters that are dependent upon future events or developments. The matters
discussed in these forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially from those projected, anticipated or implied. The most significant of these uncertainties are described in
CareFusion’s Form 10-K, Form 10-Q and Form 8-K reports (including all
amendments to those reports) and exhibits to those reports, and include (but are not
limited to) the following: we may be unable to effectively enhance our existing products or introduce and market new products or may fail to keep pace with advances in technology; we are subject to
complex and costly regulation; cost containment efforts of our customers, purchasing
groups, third-party payers and governmental organizations could adversely affect
our sales and profitability; declining economic conditions could adversely affect our
results of operations and financial condition; we may be unable to protect our intellectual property rights or may infringe on the intellectual property rights of others; defects or failures
associated with our products and/or our quality system could lead to the filing of
adverse event reports, recalls or safety alerts and negative publicity and could
subject us to regulatory actions; we are currently operating under a consent decree with the FDA and our failure to comply with the requirements of the consent decree may have an
adverse effect on our business; and we may face significant uncertainty in the industry
due to government healthcare reform. This presentation reflects management’s
views as of November 5, 2009. Except to the extent required by applicable law, we
undertake no obligation to update or revise any forward-looking statement. financial measures. Reconciliations can be found on slide 10 of this presentation. In
addition, definitions and the Investor Relations tab. reconciling information can be found on CareFusion’s website at www.carefusion.com under the SEC Filings link of Non-GAAP Financial Measures: The financial information included in this presentation includes Non-GAAP “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This presentation |
 ©
2009 CareFusion Corporation or one of its subsidiaries. All rights reserved. 3 Today’s Speakers Today’s Speakers Dave Schlotterbeck Chairman and Chief Executive Officer Ed Borkowski Chief Financial Officer |
 Q1 Fiscal 2010
Results Q1 Fiscal 2010 Results © 2009 CareFusion Corporation or one of its subsidiaries. All rights reserved.
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 © 2009
CareFusion Corporation or one of its subsidiaries. All rights reserved. Q1 Fiscal
2010 Quarterly Review Q1 Fiscal 2010 Quarterly Review GAAP Adjusted $M % Change¹ $M % Change¹ Revenue $923 1% $923 1% Operating Earnings² $117 30% $134 12% Operating Expenses² $334 (4)% $317 0% Earnings From Continuing Operations³ $55 83% $87 71% Diluted EPS From Continuing Operations³ $0.25 79% $0.39 70% 5 1 % Change over prior year quarter. 2 Adjusted operating earnings and adjusted operating expenses are Non-GAAP measures that excludes
one-time items related to restructuring and acquisition integration charges and
one-time spinoff related costs. 3 Adjusted earnings from continuing operations and adjusted diluted earnings per share are Non-GAAP
measures that excludes one-time items related to restructuring and acquisition integration
charges, one-time spinoff related costs and non-recurring tax items. |
 © 2009
CareFusion Corporation or one of its subsidiaries. All rights reserved. Q1 Fiscal
2010 Segment Analysis Q1 Fiscal 2010 Segment Analysis GAAP Adjusted Critical Care Technologies $M % Change¹ $M % Change¹ Revenues $617 0% $617 0% Segment Profit² $101 35% $112 16% Medical Technologies and Services $M % Change¹ $M % Change¹ Revenues $306 3% $306 3% Segment Profit² $16 7% $22 (8)% 6 1 % Change over prior year quarter. 2 Adjusted segment profit is a Non-GAAP measure that excludes one-time items related to
restructuring and acquisition integration charges and one- time spinoff related
costs. |
 Fiscal 2010
Guidance Fiscal 2010 Guidance © 2009 CareFusion Corporation or one of its subsidiaries. All rights reserved.
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 © 2009
CareFusion Corporation or one of its subsidiaries. All rights reserved. Revised
Fiscal 2010 Financial Guidance Revised Fiscal 2010 Financial Guidance Updated FY10 Outlook Previous FY10 Outlook¹ Total Revenue (millions) $3,850 - $4,000 $3,850 - $4,000 Gross Margin ~47% - 48% 46% Adjusted Operating Expenses² 35% of total revenue 34% of total revenue Adjusted Tax Rate³ ~25% - 26% ~25% Adjusted Diluted EPS³ $1.35 - $1.45 $1.10 - $1.20 One-time Items 4 ~$120 - $130 ~$120 - $130 Diluted weighted average shares outstanding ~221M ~228M Capital Expenditures $180 $180 8 1 Provided by CareFusion on August 18, 2009. 2 Adjusted operating expenses is a Non-GAAP measure that excludes one-time items related to
restructuring and acquisition integration charges and one- time spinoff related costs.
3 Adjusted tax rate and adjusted diluted earnings per share are Non-GAAP measures that excludes
one-time items related to restructuring and acquisition integration charges, one-time
spinoff related costs, non-recurring tax items and discontinued operations. 4 One-time items are related to restructuring and acquisition integration charges, one-time spinoff
related costs and non-recurring tax items. |
 Q&A
Q&A © 2009 CareFusion Corporation or one of its subsidiaries. All rights reserved.
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 © 2009
CareFusion Corporation or one of its subsidiaries. All rights reserved. Non-GAAP
Reconciliations Non-GAAP Reconciliations FY10 Q1 GAAP $M One-Time Items 1 $M FY10 Q1 Adjusted $M Operating Expenses $334 $(17) $317 Operating Earnings $117 $17 $134 Earnings From Continuing Operations $55 $32 $87 Diluted EPS From Continuing Operations $0.25 $0.14 $0.39 Critical Care Technologies Segment Profit $101 $11 $112 Medical Technologies and Services Segment Profit $16 $6 $22 10 1 One-time items are related to restructuring and acquisition integration charges, one-time spinoff
related costs and non-recurring tax items. Note: Relations tab. A discussion of the reasons why management believes that the presentation of non-GAAP
financial measures provides useful information to investors regarding the company’s
financial condition and results of operations is included in Exhibit 99.3 of Form 8-K filed by the company on November 5, 2009. A full GAAP to non-GAAP reconciliation can be found on CareFusion’s website at www.carefusion.com under the SEC Filings link of the Investor |