Earnings roundup: CareFusion profit slides, Cardinal Health posts 1Q loss on spinoff expenses

Earnings roundup: CareFusion, Cardinal Health

Among the earnings stories for Thursday, Nov. 5, from AP Financial News:

SAN DIEGO (AP) — Medical technology company CareFusion Corp. said its profit slid 28 percent in the fiscal first quarter compared with a year ago because of businesses that were not included in its spinoff from Cardinal Health.

DUBLIN, Ohio (AP) — Drug distributor Cardinal Health Inc. said it took a loss in its fiscal first quarter due to expenses from the spinoff of a former business, medical technology company CareFusion Corp.

ENID, Okla. (AP) — Continental Resources Inc. said its quarterly profit tumbled 67 percent, driven by sharply lower crude oil and natural gas prices compared with the prior-year period.

UNDATED (AP) — Satellite TV operator DirecTV Group Inc. was one of the few pay-TV companies to gain subscribers in the third quarter, though earnings stayed steady because of the higher costs it incurred attracting and serving those new customers.

DALLAS (AP) — Titanium Metals Corp., the largest U.S. titanium producer, said its third-quarter profit plunged on lower shipments to commercial aircraft builders and weaker selling prices amid competitive pressures.

LAS VEGAS (AP) — MGM Mirage’s latest casino project isn’t open yet, but a drop in the $8.5 billion complex’s value combined with falling revenue companywide to push the casino operator into the red in its third quarter, the company said.

RALEIGH, N.C. (AP) — First Citizens Bancshares Inc. said its third-quarter profit more than quadrupled after it took over the assets of two failed banks.

Time Warner Cable Inc., the nation’s second biggest cable TV operator, said its profit fell 11 percent in the third quarter, weighed down by heftier interest expenses after piling on debt to separate from its parent, Time Warner Inc.

CHICAGO (AP) — Dollar drinks, sandwiches and desserts will join more Arby’s menus as the struggling fast-food chain jumps on the deep-discount bandwagon aimed at wooing customers who have fled its higher-priced meals.

PORTLAND, Ore. (AP) — Sara Lee Corp., with leaner operations and more profitable product line, reported that its first-quarter profit jumped 23 percent and raised its outlook for the year.