What was Cardinal Health's revenue for the fiscal year ended June 30, 2003?

Cardinal Health reported operating revenue of $50,466.6 million for the fiscal year ended June 30, 2003. Total revenue, including bulk deliveries, was $56,737.0 million.

Which segment showed the most significant growth in fiscal year 2003?

The Pharmaceutical Technologies and Services segment exhibited the most significant growth, with a 44% increase in operating revenue, partly attributed to the acquisition of Syncor.

What major litigation is Cardinal Health currently involved in?

Cardinal Health is involved in several significant litigations, including ongoing lawsuits related to alleged personal injuries from natural rubber latex gloves (indemnified from Baxter), shareholder litigation concerning the Syncor acquisition (alleging improper payments and breach of fiduciary duties), and a patent infringement and contract dispute with DuPont concerning surgical drapes and gowns.

How did the company manage its debt and capital resources?

Cardinal Health managed its debt through various programs, including commercial paper and credit facilities. Shareholders' equity grew to $7.8 billion, supported by net earnings and share repurchases. The company also repurchased approximately $1.2 billion in common shares during fiscal year 2003 and had access to significant credit facilities.

CAH 10-K FY2003 Annual Report — Revenue, Net Income, EPS

Summary

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.

Key Highlights

1Cardinal Health reported a 14% increase in operating revenue for fiscal year 2003, reaching $50.5 billion, driven by growth across all segments.

2The Pharmaceutical Technologies and Services segment saw significant revenue growth of 44%, bolstered by the acquisition of Syncor, and strong performance in Oral Technologies and Biotechnology.

3The company's strategy continues to emphasize growth through acquisitions, with several strategic purchases completed or evaluated during the year to expand its healthcare offerings.

4The Pharmaceutical Distribution and Provider Services segment, while facing margin pressure from vendor policies and competitive pricing, remains the largest revenue contributor.

5Despite ongoing legal proceedings, including those related to latex glove litigation and shareholder suits concerning Syncor, the company believes the outcomes will not have a material adverse effect on its financial condition.

6Cardinal Health maintained a strong balance sheet, with shareholders' equity increasing to $7.8 billion, supported by net earnings of $1.4 billion.

7The company actively engaged in share repurchases, returning capital to shareholders while also investing in capital expenditures and research and development.

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

Summary

Key Highlights

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