Attached files
Exhibit 99.4
SUPPLEMENTAL QUARTERLY FINANCIAL INFORMATION
The following table presents unaudited quarterly financial data for CareFusion Corporation (the “Company”) for each of the quarters in the fiscal year ended June 30, 2009. As set forth in the Form 8-K of which this Exhibit 99.4 forms a part (this “Form 8-K”), on August 31, 2009, Cardinal Health, Inc. (“Cardinal Health”) completed the spinoff of the Company through a pro rata distribution to Cardinal Health shareholders of approximately 81% of the Company’s outstanding common stock. In connection with the spinoff, Cardinal Health retained certain lines of business that manufacture and sell surgical and exam gloves, drapes and apparel and fluid management products in the U.S. markets and that were historically managed by the Company prior to the spinoff, which were part of the clinical and medical products businesses of Cardinal Health. For the fiscal year ended June 30, 2009, these businesses were reported in the Company’s financial statements on an as-managed basis. In connection with the spinoff, effective as of August 31, 2009, these businesses have been reclassified by the Company as a discontinued operation.
In addition, as disclosed in CareFusion’s Quarterly Report on Form 10-Q for the period ended September 30, 2009, the Company committed to a plan to dispose its Audiology business during the quarter ended September 30, 2009, and subsequently sold the business on October 1, 2009. As a result, this business has been reclassified by the Company as a discontinued operation. The unaudited quarterly financial data presented in the following table reflects the reclassification of these businesses as discontinued operations.
| Quarter Ended | Fiscal Year Ended June 30, 2009 |
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| (in millions, except per share amounts) |
September 30, 2008 |
December 31, 2008 |
March 31, 2009 |
June 30, 2009 |
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| Revenue 1 |
$ | 915 | $ | 969 | $ | 844 | $ | 867 | $ | 3,595 | ||||||||||
| Cost of Products Sold |
478 | 495 | 426 | 465 | 1,864 | |||||||||||||||
| Gross Margin |
437 | 474 | 418 | 402 | 1,731 | |||||||||||||||
| Selling, General and Administrative Expenses |
280 | 256 | 262 | 257 | 1,055 | |||||||||||||||
| Research and Development Expenses |
37 | 41 | 39 | 43 | 160 | |||||||||||||||
| Restructuring and Acquisition Integration Charges |
30 | 5 | 20 | 17 | 72 | |||||||||||||||
| Operating Income 2 |
90 | 172 | 97 | 85 | 444 | |||||||||||||||
| Interest Expense and Other, Net |
32 | 23 | 25 | 21 | 101 | |||||||||||||||
| Income Before Income Taxes |
58 | 149 | 72 | 64 | 343 | |||||||||||||||
| Provision (Benefit) for Income Taxes |
28 | 42 | (16 | ) | (1 | ) | 53 | |||||||||||||
| Income from Continuing Operations |
30 | 107 | 88 | 65 | 290 | |||||||||||||||
| Income from Discontinued Operations, Net of Tax |
83 | 81 | 83 | 31 | 278 | |||||||||||||||
| Net Income |
$ | 113 | $ | 188 | $ | 171 | $ | 96 | $ | 568 | ||||||||||
| Per Share Amounts: 3 |
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| Basic Earnings per Common Share |
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| Continuing Operations |
$ | 0.14 | $ | 0.48 | $ | 0.40 | $ | 0.30 | $ | 1.32 | ||||||||||
| Discontinued Operations |
$ | 0.38 | $ | 0.37 | $ | 0.38 | $ | 0.14 | $ | 1.26 | ||||||||||
| Basic Earnings per Common Share |
$ | 0.51 | $ | 0.85 | $ | 0.78 | $ | 0.44 | $ | 2.58 | ||||||||||
| Diluted Earnings per Common Share |
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| Continuing Operations |
$ | 0.14 | $ | 0.48 | $ | 0.40 | $ | 0.30 | $ | 1.32 | ||||||||||
| Discontinued Operations |
$ | 0.38 | $ | 0.37 | $ | 0.38 | $ | 0.14 | $ | 1.26 | ||||||||||
| Diluted Earnings per Common Share |
$ | 0.51 | $ | 0.85 | $ | 0.78 | $ | 0.44 | $ | 2.58 | ||||||||||
| Weighted-Average Number of Shares Outstanding: 4 |
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| Basic |
220.5 | 220.5 | 220.5 | 220.5 | 220.5 | |||||||||||||||
| Diluted |
220.5 | 220.5 | 220.5 | 220.5 | 220.5 | |||||||||||||||
| Effective Tax Rate |
48.3 | % | 28.2 | % | (22.6 | )% | (2.1 | )% | 15.3 | % | ||||||||||
| 1 | Revenues by reporting segment for each of the quarterly periods in the fiscal year ended June 30, 2009 were as follows (excluding intercompany revenues): |
| Quarter Ended | ||||||||||||
| September 30, 2008 |
December 31, 2008 |
March 31, 2009 |
June 30, 2009 | |||||||||
| Critical Care Technologies |
$ | 618 | $ | 675 | $ | 543 | $ | 593 | ||||
| Medical Technologies and Services |
297 | 294 | 301 | 274 | ||||||||
| 2 | Operating income by reporting segment for each of the quarterly periods in the fiscal year ended June 30, 2009 was as follows: |
| Quarter Ended | ||||||||||||
| September 30, 2008 |
December 31, 2008 |
March 31, 2009 |
June 30, 2009 | |||||||||
| Critical Care Technologies |
$ | 75 | $ | 146 | $ | 56 | $ | 77 | ||||
| Medical Technologies and Services |
15 | 26 | 41 | 8 | ||||||||
| 3 | Earnings per share calculations are performed separately for each period and component presented. Therefore, the sum of the per share components from the table may not equal the per share amount presented. |
| 4 | Reflects shares outstanding for earnings per share calculation purposes after the August 31, 2009 distribution of our common stock based on a ratio of 0.5 shares of our common stock for each common share of Cardinal Health. |