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CARDINAL HEALTH INC - 34 annual reports

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 2025

Aug 12, 2025

Cardinal Health, Inc. reported a decline in total revenue for fiscal year 2025 to $222.6 billion, a 2% decrease attributed primarily to the expiration of significant contracts with OptumRx. Despite the revenue dip, both GAAP and non-GAAP operating earnings saw substantial increases, with GAAP operating earnings up 83% to $2.3 billion and non-GAAP operating earnings rising 15% to $2.8 billion. This improvement was driven by strong performance in branded and specialty pharmaceuticals, as well as contributions from recent strategic acquisitions, including those in the managed services organization (MSO) space and in-home solutions. The company actively deployed capital in fiscal 2025, with $5.3 billion allocated to acquisitions, $765 million for share repurchases, and $400 million for debt repayment. Additionally, Cardinal Health returned $494 million to shareholders through dividends. Significant acquisitions like GI Alliance, Integrated Oncology Network, and Advanced Diabetes Supply Group are expected to contribute to future growth, although they also increased amortization and acquisition-related costs. The company maintained a strong liquidity position with $3.9 billion in cash and equivalents at the end of the fiscal year.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 2024

Aug 14, 2024

Cardinal Health, Inc. reported strong revenue growth of 11% to $226.8 billion for fiscal year 2024, driven primarily by its Pharmaceutical and Specialty Solutions segment. Despite this top-line expansion, the company experienced a significant goodwill impairment charge of $675 million related to its Global Medical Products and Distribution (GMPD) segment, which fully impaired the goodwill for that segment. Non-GAAP diluted EPS showed substantial growth, increasing by 29% to $7.53, reflecting improved operational performance excluding these non-recurring charges. The company also announced the expiration of its pharmaceutical distribution contracts with OptumRx at the end of June 2024, which is expected to negatively impact fiscal 2025 results. However, the recent acquisition of Specialty Networks for $1.2 billion is anticipated to bolster the Pharmaceutical and Specialty Solutions segment. Cardinal Health maintained its focus on capital deployment, returning capital to shareholders through share repurchases and dividends, while managing its debt obligations and accruing significant reserves for opioid-related litigation.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 2023

Aug 15, 2023

Cardinal Health, Inc. reported a significant increase in revenue for fiscal year 2023, reaching $205.0 billion, driven primarily by its Pharmaceutical segment. The company's consolidated GAAP operating earnings improved to $727 million from a loss of $596 million in the prior year, largely benefiting from litigation recoveries. On a non-GAAP basis, operating earnings increased by 3% to $2.1 billion, reflecting growth in the Pharmaceutical segment's profit, partially offset by a decline in the Medical segment's profit. The company faced challenges in its Medical segment, which saw a 5% decrease in revenue due to lower volumes and unfavorable product mix, compounded by ongoing inflationary impacts. Significant goodwill impairment charges totaling $1.2 billion were recognized in the Medical segment during fiscal 2023, following a $2.1 billion charge in fiscal 2022, reflecting revised long-term financial plan assumptions. The company continues to manage substantial long-term liabilities, including a significant accrual for opioid litigation, with payments expected through 2038. Financially, Cardinal Health returned $2.0 billion to shareholders through share repurchases and paid $525 million in dividends in fiscal 2023. The company maintained a strong liquidity position, with cash and equivalents of $4.0 billion at year-end. Looking ahead, the company expects continued inflationary impacts in the Medical segment, albeit at a reduced level, and anticipates sales growth in its branded medical products.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 2022

Aug 11, 2022

Cardinal Health, Inc. reported total revenue of $181.4 billion for fiscal year 2022, representing a 12% increase from the prior year, primarily driven by growth in its Pharmaceutical segment. Despite revenue growth, the company incurred a GAAP operating loss of $596 million, largely due to a significant $2.1 billion pre-tax goodwill impairment charge related to its Medical segment. The non-GAAP operating earnings decreased by 12% to $2.0 billion, primarily impacted by inflationary pressures and supply chain constraints in the Medical segment. A substantial development during the year was the effective date of the National Settlement for opioid lawsuits, involving up to approximately $6.0 billion in payments over 18 years. The company's liquidity remains strong, with cash and equivalents increasing to $4.7 billion, supported by operating activities and the divestiture of the Cordis business.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 2021

Aug 16, 2021

Cardinal Health, Inc. reported total revenue of $162.5 billion for fiscal year 2021, marking a 6% increase over the prior year. This growth was primarily driven by the Pharmaceutical segment, which saw increased sales from pharmaceutical distribution and specialty solutions. The company's GAAP operating earnings significantly improved from a loss of $4.1 billion in fiscal 2020 to earnings of $472 million in fiscal 2021. However, this turnaround was heavily influenced by a substantial reduction in litigation charges related to opioid settlements. Non-GAAP operating earnings saw a modest decrease of 5% to $2.3 billion, impacted by COVID-19 related inventory reserves in the Medical segment and volume declines in the Pharmaceutical segment's generics program. Looking ahead, Cardinal Health has made strides in resolving its opioid-related legal liabilities by entering into a proposed settlement agreement that, if finalized, would see payments of up to $6.37 billion spread over 18 years. The company also completed the divestiture of its Cordis business in August 2021, which is expected to reduce annual revenue by approximately $800 million. Despite operational challenges like COVID-19 impacts and increased supply chain costs, the company's liquidity remains strong, with cash and equivalents increasing to $3.4 billion.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 2020

Aug 13, 2020

Cardinal Health, Inc. reported a significant shift in its financial performance for the fiscal year ended June 29, 2020. While the company saw a 5% increase in total revenue to $152.9 billion, primarily driven by its Pharmaceutical segment, its reported GAAP operating loss widened considerably to $4.1 billion. This substantial loss was largely attributed to a $5.63 billion pre-tax charge related to an estimated liability for lawsuits and claims concerning the distribution of prescription opioid pain medications. Despite this significant one-time charge, the company's non-GAAP operating earnings saw a slight increase of 1% to $2.38 billion, reflecting ongoing cost-saving measures and growth in specialty solutions, partially offset by customer contract renewals and the impact of COVID-19. Operationally, the Pharmaceutical segment experienced revenue growth, while the Medical segment saw a slight decline, impacted by the pandemic's effect on elective medical procedures. Cardinal Health maintained a solid liquidity position, with cash and equivalents increasing to $2.8 billion. The company also continued its capital deployment strategies, including dividend payments and share repurchases. However, the substantial opioid litigation charge presents a significant financial overhang and a key area of focus for investors moving forward.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 2019

Aug 20, 2019

Cardinal Health, Inc. reported total revenue of $145.5 billion for fiscal year 2019, representing a 6% increase from the prior year, largely driven by its Pharmaceutical segment. While overall revenue grew, the company's non-GAAP operating earnings saw a 9% decline, attributed to challenges in the Pharmaceutical segment's generics program and customer contract renewals, alongside performance issues in the Medical segment's branded products. Despite the decline in non-GAAP operating earnings, Cardinal Health's Non-GAAP diluted EPS increased by 6% to $5.28, benefiting from a lower effective tax rate and reduced share count. The company generated strong operating cash flow of $2.7 billion and ended the year with a robust cash balance of $2.5 billion. Significant events during the year included the divestiture of its naviHealth business, contributing a pre-tax gain of $508 million, and the company's ongoing efforts in cost-saving initiatives, with expected charges of $120-145 million in fiscal year 2020. Investors should note the ongoing opioid litigation as a significant risk factor, with potential material adverse effects on the company's financial condition and operations.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 2018

Aug 22, 2018

Cardinal Health Inc. reported significant financial shifts in fiscal year 2018, marked by a substantial decrease in reported GAAP operating earnings due to a $1.4 billion goodwill impairment charge in its Medical segment, along with increased acquisition-related costs and litigation charges. Despite these GAAP impacts, the company highlighted a more modest 7% decline in non-GAAP operating earnings, driven by performance in its Pharmaceutical segment and acquisition contributions. Revenue saw a 5% increase, reaching $136.8 billion, largely attributed to growth in pharmaceutical distribution and specialty pharmaceutical customers, further bolstered by the acquisition of the Patient Recovery Business. However, the company also announced expected decreases in fiscal 2019 Pharmaceutical segment profit due to customer contract renewals and the loss of a major customer. Efforts to control costs and integrate acquisitions are key focus areas for the coming year.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 2017

Aug 10, 2017

Cardinal Health, Inc. reported robust revenue growth of 7% to $130.0 billion for fiscal year 2017, driven primarily by its Pharmaceutical segment. However, operating earnings saw a decrease of 14% on a GAAP basis and 4% on a non-GAAP basis, attributed to generic pharmaceutical customer pricing changes and the loss of a major distribution customer. Despite the earnings dip, the company maintained a strong financial position with cash and equivalents increasing significantly due to debt issuance and operating cash flow, partially offset by strategic investments. A major development during the year was the acquisition of Medtronic's Patient Recovery Business for $6.1 billion, which is expected to bolster the Medical segment's portfolio and revenue in the upcoming fiscal year, although it also introduced increased amortization and interest expenses. The company demonstrated a commitment to shareholder returns through a 16% increase in quarterly dividends and ongoing share repurchases. Looking ahead, Cardinal Health anticipates continued challenges in its Pharmaceutical segment due to pricing pressures but expects the Medtronic acquisition to drive growth in the Medical segment. The company's risk factors highlight competitive pressures, regulatory scrutiny, and the potential impact of economic conditions and customer concentration, particularly with its largest customer, CVS.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 2016

Aug 12, 2016

Cardinal Health, Inc. reported a significant 19% increase in revenue for fiscal year 2016, reaching $121.5 billion, primarily driven by strong performance in its Pharmaceutical segment, bolstered by new and existing distribution customers, and complemented by strategic acquisitions. The company also saw a healthy increase in both GAAP and non-GAAP operating earnings, growing by 14% and 17% respectively. Diluted earnings per share also experienced robust growth, with GAAP EPS up 20% to $4.32 and non-GAAP EPS up 20% to $5.24. Key to this growth were significant acquisitions, including Cordis, Harvard Drug Group, and naviHealth, which expanded the company's Medical segment capabilities and its pharmaceutical distribution reach. Despite these investments, which led to a decrease in cash and equivalents, the company maintained a strong liquidity position through its credit facilities. Management anticipates continued growth, though with moderating profit growth in the Pharmaceutical segment for fiscal year 2017 due to customer pricing changes and the loss of a large customer.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 2015

Aug 13, 2015

Cardinal Health Inc. reported robust growth in fiscal year 2015, with total revenue increasing by 13% to $102.5 billion. This expansion was primarily driven by strong performance in its Pharmaceutical segment, fueled by sales growth from existing and new customers, alongside increased sales of branded pharmaceuticals and newly launched hepatitis C treatments. The Medical segment also contributed positively, with revenue growth attributed to acquisitions. The company highlighted significant strategic moves, including the acquisition of Harvard Drug Group for $1.1 billion and the pending acquisition of Johnson & Johnson's Cordis business for $1.9 billion, aimed at strengthening its core offerings and expanding its market reach. Financially, Cardinal Health demonstrated improved profitability, with GAAP operating earnings up 15% to $2.2 billion and GAAP diluted EPS rising 7% to $3.61. The company also returned value to shareholders through share repurchases and increased dividends. Despite the positive trajectory, the company noted the ongoing impact of the Walgreens contract expiration, which negatively affected revenue growth, and highlighted the increasing impact of acquisition-related costs on future earnings.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 2014

Aug 13, 2014

Cardinal Health Inc.'s (CAH) 2014 10-K report highlights a year of significant revenue decline primarily due to the expiration of its large contract with Walgreens. Despite this, the company demonstrated resilience, with a substantial increase in operating earnings and earnings from continuing operations, largely driven by the absence of a significant goodwill impairment charge from the prior year. The company's strategic focus remains on its two core segments: Pharmaceutical and Medical, with ongoing efforts to enhance efficiency and reduce costs for healthcare providers. Key developments include the formation of a generic pharmaceutical sourcing joint venture with CVS Caremark, Red Oak Sourcing, aiming to leverage combined purchasing power. The Medical segment saw expansion through the acquisition of Access Closure Inc., adding to its portfolio of self-manufactured products. Cardinal Health continues to manage its capital effectively through share repurchases and dividend payments, while maintaining a strong liquidity position. Investors should note the company's significant reliance on its largest customer, CVS, which accounted for 28% of fiscal 2014 revenue.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 2013

Aug 20, 2013

Cardinal Health Inc. reported a challenging fiscal year 2013, marked by a significant 6% revenue decline to $101.1 billion, largely attributed to the expiration of its pharmaceutical distribution contract with Express Scripts and ongoing brand-to-generic pharmaceutical conversions. Despite this revenue decrease, the company saw an 8% increase in gross margin to $4.9 billion, driven by strong performance in its pharmaceutical segment's generic programs. However, operating earnings were substantially impacted, falling 44% to $1.0 billion, primarily due to an $829 million non-cash goodwill impairment charge related to its Nuclear Pharmacy Services division. The company also completed a major acquisition of AssuraMed for $2.07 billion, which is expected to expand its reach in serving homecare providers and patients. A significant event impacting the upcoming fiscal year is the non-renewal of the pharmaceutical distribution contract with Walgreens, which represented approximately 20% of fiscal 2013 revenue. Management anticipates an adverse impact from this contract expiration but is implementing cost reduction measures to mitigate it. The company expects a positive net after-tax benefit to cash flow from operating activities exceeding $500 million in fiscal 2014 as a result of the expected working capital changes following the Walgreens contract expiration.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 2012

Aug 22, 2012

Cardinal Health Inc. (CAH) reported robust revenue growth in fiscal year 2012, reaching $107.6 billion, driven by strong performance in its Pharmaceutical segment and contributions from acquisitions. The company's operating earnings increased by 18% to $1.8 billion. Key drivers included effective generic pharmaceutical programs and strategic acquisitions that bolstered both revenue and profit. Despite overall growth, the company faces significant customer concentration, with its top two customers, CVS and Walgreens, accounting for a substantial portion of its revenue. The upcoming expiration of major contracts, particularly with Express Scripts, Inc., which provided $9.0 billion in revenue in fiscal 2012, poses a notable risk. The company is also navigating regulatory scrutiny, including a settlement with the DEA regarding controlled substance distribution at its Lakeland, Florida facility, which resulted in a suspension of its registration for these substances until May 2014. The company's financial health remains solid, with increased cash and equivalents and ongoing capital deployment through dividends and share repurchases.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 2011

Aug 26, 2011

Cardinal Health Inc.'s 2011 10-K filing reports robust revenue growth, reaching $102.6 billion, driven primarily by its Pharmaceutical segment. The company achieved significant growth through strategic acquisitions, including Kinray, Yong Yu, and P4 Healthcare, which expanded its reach in the U.S. retail independent pharmacy market, established a presence in China, and strengthened its specialty pharmaceutical services, respectively. These acquisitions contributed $2.9 billion in revenue and $61 million in operating earnings in fiscal year 2011. The company experienced a 26% increase in Pharmaceutical segment profit, attributed to strong performance in generic drug programs, new product launches, and favorable branded manufacturer agreements. Conversely, the Medical segment saw a 14% decrease in profit, impacted by rising commodity costs for manufactured products. Despite these segment-specific challenges, the overall consolidated operating earnings increased by 16% to $1.5 billion, reflecting effective cost management and strategic execution. The company also continued its commitment to shareholder returns, increasing its quarterly dividend by 11% and repurchasing shares.

CARDINAL HEALTH INC Annual Report (Amendment), Year Ended Jun 30, 2010

Sep 2, 2010

This filing is an amendment (10-K/A) to Cardinal Health, Inc.'s Annual Report on Form 10-K for the fiscal year ended June 30, 2010. The primary purpose of this amendment is to provide XBRL (Extensible Business Reporting Language) formatted financial data, which was omitted from the original filing. It does not introduce new financial information or materially alter the original report's content regarding the company's performance or financial position for the fiscal year 2010. Investors should refer to the original 10-K filing for comprehensive financial details and management's discussion and analysis.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 2010

Aug 26, 2010

Cardinal Health, Inc. (CAH) reported its fiscal year 2010 results, marked by a significant transition following the spin-off of its CareFusion Corporation business in August 2009. The company is now focused on two core segments: Pharmaceutical and Medical. Revenue for the fiscal year reached $98.5 billion, a 3% increase over the prior year. Pharmaceutical segment revenue grew by 2% to $89.8 billion, driven by pharmaceutical price appreciation and volume growth, though this was partially offset by customer losses and pricing changes on renewed contracts. The Medical segment saw a 7% revenue increase to $8.75 billion, primarily due to higher volumes and new products. Net earnings from continuing operations for fiscal 2010 were $587 million, or $1.62 per diluted share, a decrease from $758 million in fiscal 2009, attributed to factors like pricing changes in the Pharmaceutical segment and strategic investments. The company's financial position strengthened, with cash and equivalents increasing to $2.8 billion from $1.2 billion, driven by operating cash flow. Cardinal Health also continued its capital allocation strategy, including dividend payments, share repurchases, and strategic acquisitions, notably the acquisition of Healthcare Solutions Holding, LLC in July 2010.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 2009

Aug 27, 2009

Cardinal Health Inc.'s 2009 10-K filing highlights a significant strategic shift with the planned spin-off of its CareFusion Corporation business. This separation aims to streamline the company by divesting its clinical and medical products segment, allowing Cardinal Health to focus primarily on its core healthcare supply chain services, particularly pharmaceutical distribution. The company is also undergoing changes to its reportable segments to reflect this strategic realignment. Financially, the company operates within a competitive landscape across its segments, with the pharmaceutical supply chain business facing particular margin pressures due to customer discounts and manufacturer incentives. The filing also details various acquisitions and divestitures over the past five years, indicating a dynamic approach to portfolio management. Investors should pay close attention to the impact of the CareFusion spin-off and the ongoing competitive pressures on margins within the pharmaceutical distribution segment.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 2008

Aug 27, 2008

Cardinal Health, Inc. (CAH) filed its 2008 10-K report, reflecting a significant period of strategic re-evaluation and operational adjustments. A key development is the active exploration of separating its Healthcare Supply Chain Services and Clinical and Medical Products segments, potentially through a tax-free spin-off of the latter. This move signals a desire to streamline operations and potentially unlock value by creating more focused entities. The company's business is broadly categorized into pharmaceutical and medical supply chain services, clinical technologies, and medical products, each facing distinct competitive landscapes and regulatory environments. Investors should note the company's substantial revenue concentration with its top customers, particularly CVS Caremark and Walgreen Co., which collectively represented a significant portion of fiscal 2008 revenue, highlighting potential risks associated with customer retention. The report also details extensive regulatory oversight across its various segments, including FDA, DEA, and other health agencies, alongside ongoing efforts to ensure compliance and manage associated risks. The company's acquisition and divestiture activities demonstrate a dynamic approach to portfolio management, aiming to align with strategic objectives.

CARDINAL HEALTH INC Annual Report (Amendment), Year Ended Jun 30, 2007

May 8, 2008

Cardinal Health Inc. (CAH) reported strong revenue growth in fiscal year 2007, reaching $86.9 billion, a 9% increase from the prior year. This growth was primarily driven by its Pharmaceutical Supply Chain Services segment, which accounted for approximately 86% of total segment revenue, and supported by increased volume from both bulk and non-bulk customers, as well as pharmaceutical price appreciation. However, the company experienced a significant decrease in operating earnings, down 26% to $1.4 billion, largely due to substantial "special items" totaling $772 million. These special items were predominantly driven by litigation settlement reserves ($655 million) and in-process research and development expenses related to acquisitions. Despite the decline in operating earnings, net earnings saw a substantial increase of 93% to $1.9 billion, primarily due to a $1.1 billion after-tax gain from the divestiture of its PTS Business. The company also actively returned capital to shareholders through $3.8 billion in share repurchases and increased dividend payments.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 2007

Aug 24, 2007

Cardinal Health Inc. (CAH) reported significant revenue growth of 9% to $86.9 billion in fiscal year 2007, driven primarily by its Pharmaceutical Supply Chain Services segment. However, operating earnings saw a substantial decline of 26% to $1.4 billion, largely impacted by $772 million in special items, including significant reserves for litigation settlements. The company also completed the divestiture of its PTS Business for $3.2 billion, using the proceeds for share repurchases and recording an $1.1 billion after-tax gain. Strategic acquisitions in respiratory care (Viasys) and infection management (MedMined) also bolstered its product offerings.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 2006

Sep 1, 2006

Cardinal Health Inc. reported record revenue of $81.4 billion for the fiscal year ended June 30, 2006, a 10% increase year-over-year, driven by growth across all four reportable segments. The company highlighted an 8% increase in operating earnings to $2.0 billion and a 14% rise in diluted earnings per share from continuing operations to $2.90. A significant transition to a fee-for-service model in the Pharmaceutical Distribution segment was completed, which is expected to moderate earnings seasonality and volatility. However, the company is also managing the impact of ongoing SEC and U.S. Attorney investigations, for which it has reserved $35 million, and significant shareholder litigation, though the ultimate outcome and financial impact are currently unpredictable. Despite these legal and regulatory challenges, the company continues to focus on operational improvements and strategic acquisitions, demonstrating resilience in its core distribution and services businesses.

CARDINAL HEALTH INC Annual Report (Amendment), Year Ended Jun 30, 2005

Nov 8, 2005

This filing is an amendment (10-K/A) to Cardinal Health Inc.'s (CAH) 2005 annual report, covering the period ending June 29, 2005, and filed on November 7, 2005. As an amendment, it primarily serves to provide updated or supplementary information to the original filing. The document lists various exhibits, including financial statement schedules and significant agreements such as wholesale supply agreements with major pharmacy chains (CVS Pharmacy, Inc.) and prime vendor agreements with pharmacy benefit managers (Express Scripts, Inc.). It also details numerous credit agreements, stock incentive plans, and employment agreements for key executives. For investors, this filing offers transparency into the company's contractual relationships with its key customers and partners, as well as its executive compensation and corporate governance structures. While it does not present new financial results directly, it provides context for the financial performance reported in the main 10-K by detailing the underlying agreements that drive revenue and operational activity. Investors should note the confidentiality requests for certain commercial and financial information within these agreements, which limits full public disclosure but is standard practice.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 2005

Sep 12, 2005

Cardinal Health Inc.'s 2005 10-K filing reveals a company operating in the dynamic healthcare services sector, primarily focused on pharmaceutical distribution and medical product manufacturing. The company's strategic positioning as a key intermediary in the healthcare supply chain is evident, impacting its revenue streams and operational complexities. Investors should note the company's significant scale of operations, which entails substantial inventory management, logistics, and regulatory compliance. For the fiscal year ending June 29, 2005, investors should pay close attention to the company's revenue growth drivers, the profitability of its diverse business segments, and any potential risks associated with its operating environment, such as competition, regulatory changes, and supply chain disruptions. The filing also provides insights into the company's financial condition, including its debt levels, cash flow generation, and capital allocation strategies. Understanding these aspects is crucial for assessing Cardinal Health's long-term value and investment potential.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 2004

Oct 26, 2004

Cardinal Health, Inc.'s 2004 10-K filing reveals a year marked by significant events, most notably an ongoing SEC investigation and a U.S. Attorney inquiry into the company's accounting practices. This led to a restatement of financial statements for fiscal years 2000 through 2003 and the first three quarters of fiscal 2004. The restatements stemmed from issues related to revenue classification, accelerated recognition of cash discounts, timing of revenue recognition in the Automation and Information Services segment, and various balance sheet reserve adjustments. Despite these accounting challenges, Cardinal Health continued to grow its revenue by 15% to $65.1 billion, driven by strong performance across its diversified business segments, including Pharmaceutical Distribution and Provider Services, Medical Products and Services, and Pharmaceutical Technologies and Services. The company also completed a major acquisition of ALARIS Medical Systems for approximately $2.1 billion, expanding its offerings in intravenous medication safety. The company is also navigating a critical transition in its Pharmaceutical Distribution business model, shifting towards a fee-for-service compensation structure with manufacturers, which presents both opportunities and uncertainties.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 2003

Sep 29, 2003

Cardinal Health, Inc. (CAH) presents its 2003 10-K filing, detailing a robust fiscal year characterized by significant revenue growth and strategic expansion through acquisitions. The company operates across four key segments: Pharmaceutical Distribution and Provider Services, Medical Products and Services, Pharmaceutical Technologies and Services, and Automation and Information Services. Revenue growth was driven by increased sales volume, new customer contracts, and pharmaceutical price increases, with the Pharmaceutical Technologies and Services segment showing particularly strong growth, partly due to the acquisition of Syncor. Despite overall positive performance, the company faced challenges including changes in vendor supply chain management policies, which impacted inventory margins in the pharmaceutical distribution segment, and ongoing litigation, notably related to latex gloves and Syncor's acquisition. Cardinal Health is actively managing these challenges while continuing its strategy of growth through acquisitions and operational efficiencies, aiming to maintain its position as a leading provider of healthcare products and services.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 2002

Sep 30, 2002

Cardinal Health, Inc. (CAH) demonstrated robust growth in fiscal year 2002, with a 15% increase in total operating revenue, reaching $44.4 billion. This growth was driven by strong performance across its four key segments: Pharmaceutical Distribution and Provider Services, Medical-Surgical Products and Services, Pharmaceutical Technologies and Services, and Automation and Information Services. The company continued its acquisitive growth strategy, completing several acquisitions that expanded its service offerings and market reach. Despite overall revenue growth, the company experienced a slight decrease in gross margin percentage due to a higher mix of lower-margin pharmaceutical distribution revenue and competitive pricing pressures in its medical-surgical segment. Significant special charges related to integration and restructuring activities impacted net earnings, though the company maintained solid operating earnings. Cardinal Health remains a dominant player in the healthcare supply chain, well-positioned for future growth through strategic acquisitions and operational efficiencies.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 2000

Sep 6, 2000

Cardinal Health, Inc.'s 2000 10-K filing reveals a company undergoing significant growth and diversification through a series of strategic acquisitions. The company operates across four key segments: Pharmaceutical Distribution and Provider Services, Medical-Surgical Products and Services, Pharmaceutical Technologies and Services, and Automation and Information Services. Fiscal year 2000 saw substantial revenue growth, driven primarily by its pharmaceutical distribution business, with expanding services and product lines aimed at improving healthcare efficiency and quality. Despite strong revenue performance, the company experienced a slight decline in gross margins, largely attributed to a shift in revenue mix towards lower-margin pharmaceutical distribution. However, management has focused on cost controls and productivity gains, which have helped reduce selling, general, and administrative expenses as a percentage of revenue. The company also navigated a complex period of integration costs related to its numerous acquisitions, which impacted net earnings but were viewed as necessary investments for long-term expansion. Cardinal Health maintained a strong liquidity position and continued its aggressive acquisition strategy, signaling a commitment to further market consolidation and service expansion.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 1999

Sep 2, 1999

Cardinal Health Inc.'s 10-K filing for the period ending June 29, 1999, reflects a company in a significant growth phase, primarily driven by its medical product distribution and healthcare services businesses. The company is focused on expanding its market share and improving operational efficiencies to capitalize on the evolving healthcare landscape. Investors should note Cardinal Health's strategic positioning as a key intermediary in the healthcare supply chain, benefiting from increasing demand for outsourced services and a consolidated industry. The filing highlights the company's commitment to strategic acquisitions and organic growth initiatives. Cardinal Health appears to be investing in its infrastructure and capabilities to support its expanding customer base and product offerings. The financial performance detailed in this report would indicate the success of these strategies in driving revenue and potentially expanding margins, although specific financial figures are not detailed in the provided text. Investors are encouraged to review the full financial statements for a comprehensive understanding of profitability and balance sheet strength.

CARDINAL HEALTH INC Annual Report (Amendment), Year Ended Jun 30, 1997

Jan 7, 1998

This filing from Cardinal Health Inc. (CAH), an annual report amendment filed on January 7, 1998, pertains to the fiscal year ending June 29, 1997. As an amendment, it suggests that the original filing may have contained information requiring correction or supplementation. Investors should note that this filing is quite dated, and the company's operations and financial standing have likely evolved significantly since 1997. Without the full text of the amendment's content, a detailed financial analysis is impossible. However, investors reviewing this historical document should focus on understanding the nature of the amendment. Was it to correct accounting errors, disclose new material information, or clarify existing disclosures? The purpose of the amendment is crucial for interpreting the company's financial health and strategic positioning at that time. Further investigation into the specific changes made by the amendment would be necessary for a comprehensive understanding.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 1997

Sep 29, 1997

Cardinal Health Inc.'s 1997 10-K filing provides a snapshot of the company's financial health and operational landscape as of June 29, 1997. The report indicates a company operating in the pharmaceutical distribution and healthcare services sector, demonstrating growth and strategic initiatives. Investors would find the information valuable for understanding the company's market position, revenue drivers, and potential risks and opportunities in the dynamic healthcare industry of the late 1990s. Key aspects likely covered in this filing would include detailed financial statements (balance sheet, income statement, cash flow), management's discussion and analysis of financial condition and results of operations, and a description of the business and its segments. The filing would also outline any material legal proceedings, risk factors, and forward-looking statements, offering a comprehensive view for potential and existing investors.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 1996

Aug 26, 1996

This 10-K filing from Cardinal Health Inc. for the period ending June 29, 1996, represents a snapshot of the company's financial health and operational scope as it existed in the mid-1990s. As a significant player in the healthcare services sector, particularly in medical product distribution, the filing would provide crucial details on revenue streams, expenses, assets, and liabilities. Investors would look for trends in sales growth, profitability, and market share within its distribution network. Key areas of interest for investors would include any discussions on expansion strategies, acquisitions, or partnerships that indicate future growth potential. Understanding the competitive landscape and Cardinal Health's positioning within it is also paramount. This report would likely detail the company's efforts to manage inventory, logistics, and customer relationships, all critical factors in the efficiency and success of a healthcare distributor. For those considering investment, the financial statements and management's discussion and analysis are vital for assessing risk and return.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 1995

Sep 21, 1995

Cardinal Health Inc.'s 1995 10-K filing marks a period of significant activity and growth for the company. The report details the company's financial performance for the fiscal year ended June 29, 1995, showcasing its operations as a major distributor of pharmaceuticals and medical products. Investors would find this filing crucial for understanding the company's market position, revenue streams, and strategic direction during a key growth phase in the healthcare distribution sector. The filing provides insights into Cardinal Health's competitive landscape, its commitment to expanding its product and service offerings, and its focus on operational efficiency. It highlights the company's efforts to strengthen its distribution network and integrate acquisitions, which were likely key drivers of its financial results. For potential investors, this report serves as a foundational document to assess the company's historical performance and its trajectory within the dynamic healthcare industry of the mid-1990s.

CARDINAL HEALTH INC Annual Report, Year Ended Jun 30, 1994

Sep 2, 1994

This 10-K filing from Cardinal Health Inc. for the period ending June 29, 1994, represents a snapshot of the company's financial performance and strategic positioning in the healthcare distribution sector. As a relatively early-stage filing for a company that has since grown significantly, it provides insight into the foundational elements of its business. Investors in this period would have been focused on the company's revenue growth, profitability, and its market share within the essential healthcare supply chain.