San Diego-based medical equipment maker CareFusion Corp.’s fourth quarter earnings rose 14 percent. The company reported improved margins and a decrease in overhead expenses, but sales of its medical devices fell, according to regulatory documents.
CareFusion (NYSE: CFN) reported profit of $109 million, up from $96 million a year earlier. Revenue, however, dropped 6 percent to $903 million. This was lower than analyst expectations, which projected revenue of $918 million.
Its gross margin increased to 51.7 percent. It was 49.4 percent a year previous.
Shares dropped incrementally after the $8.1 billion company announced its quarterly earnings. On August 9, stock closed at $36.95, down 37 cents from the previous day of trading.
CareFusion sells respiratory equipment and devices that dispense or infuse medication into the bloodstream.
— Meghana Keshavan