Cardinal Health 2011 Annual Report Download - page 48

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R
esults o
fOp
erat
i
ons
Revenue
C
hange
R
evenu
e
(
in millions, except growth rates
)
2
0
1
1
2
0
1
0
2
0
11
20
1
0
2
009
P
h
armaceut
i
ca
l
.
................................ 4% 2%
$
9
3
,
743.5
$
89
,
789.9
$
87
,
862.9
M
ed
i
cal
......................................
2%
7
%
8,921.
5
8,7
5
0.1 8,1
5
9.3
T
ota
l
Segment Revenu
e
.
.........................
4% 3%
$102
,
665.0 $98
,
540.0 $96
,
022.2
C
or
p
orate
.....................................
N.M. N.M.
(20
.
8) (3
7.
2) (30
.7
)
C
onsolidated Re
v
enue
s
.
.........................
4% 3%
$102,644.2 $98,502.8 $95,991.5
F
iscal 2011 Compared to Fiscal 201
0
P
harmaceutical segmen
t
D
ur
i
n
gfi
sca
l
2011, P
h
armaceut
i
ca
l
revenue was pos
i
t
i
ve
ly i
mpacte
dby
acqu
i
s
i
t
i
ons, net o
fdi
vest
i
tures
($2.7 billion) and increased sales to existin
g
customers ($1.8 billion). Revenue was ne
g
ativel
y
impacted b
y
losse
s
o
f customers in excess of gains (
$
584 million)
.
R
evenue from bulk sales was $41.9 billion and $44.0 billion for fiscal 2011 and 2010, respectivel
y
. Durin
g
f
iscal 2011, revenue from bulk sales decreased 5 percent as a result of the conversion of branded pharmaceutical
s
to
g
ener
i
cp
h
armaceut
i
ca
l
saswe
ll
as a s
hif
t
i
nsa
l
es to certa
i
n nat
i
ona
l
c
h
a
i
n customers to non-
b
u
lk f
rom
b
u
lk
.
R
evenue from non-bulk sales was $51.8 billion and $45.8 billion for fiscal 2011 and 2010, respectivel
y
. Revenue
f
rom non-
b
u
lk
sa
l
es
i
ncrease
d
13 percent,
d
ur
i
ng
fi
sca
l
2011, pr
i
mar
il
y
d
ue to acqu
i
s
i
t
i
ons an
d
t
h
e prev
i
ous
ly
ment
i
one
d
s
hif
t
i
nsa
l
es. A
ll
sa
l
es
f
or K
i
nra
y
, Yon
g
Yu an
d
P4 Hea
l
t
h
care are non-
b
u
lk
. See “Item 1—Bus
i
ness”
f
or more information about bulk and non-bulk sales
.
M
e
d
ica
l
se
g
ment
Me
di
ca
l
revenue was pos
i
t
i
ve
l
y
i
mpacte
dd
ur
i
ng
fi
sca
l
2011
b
y
i
ncrease
d
vo
l
ume
f
rom ex
i
st
i
ng customer
s
($354 million). These revenue
g
ains were partiall
y
offset b
y
the impact of lost customers in excess of
g
ains ($16
5
million) and decreased volume as a result of stron
g
demand for flu-related products in the prior
y
ear ($51
m
illi
on
)
.
F
isca
l
2010 Compare
d
to Fisca
l
200
9
P
harmaceutical segmen
t
P
harmaceutical se
g
ment revenue was positivel
y
impacted durin
g
fiscal 2010 b
y
pharmaceutical pric
e
a
ppreciation and increased volume from existin
g
customers (a combined impact of $3.4 billion), partiall
y
offset
by losses of customers in excess of gains (
$
1.3 billion)
.
M
edical segment
Medical se
g
ment revenue was positivel
y
impacted durin
g
fiscal 2010 b
y
increased volume from existin
g
h
ospital, laborator
y
and ambulator
y
care customers ($462 million), driven partiall
y
b
y
stron
g
demand for
f
lu-related products. Also positively impacting revenue were new products (
$
74 million) and foreign exchang
e
($55 million). In addition, in connection with the Spin-Off, we reco
g
nized previousl
y
deferred intercompan
y
revenue for sales to CareFusion of $51 million (
p
rior to the S
p
in-Off, we deferred revenue for
p
roducts sold to
C
areFus
i
on
b
us
i
nesses unt
il
t
h
e pro
d
ucts were so
ld
to t
h
een
d
customers). Losses o
f
ex
i
st
i
ng customers
i
n exces
s
o
f
g
ains from new customers reduced revenue b
y
$200 million.
22