Cardinal Health, Inc. is eliminating approximately 170 positions, including about 70 at its Dublin headquarters, amid changes in the health-care industry and in part because the company will soon lose its second customer, Walgreen Co., Columbus Business First has learned. The jobs are primarily salaried professional positions in the main corporate staff and the pharmaceutical business segment, with some in the medical supply division.

Cardinal Health, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended March 31, 2013. For the quarter, the company reported revenue of $24,552 million compared to $26,918 million a year ago. Operating earnings was $475 million compared to $527 million a year ago. Earnings before income taxes and discontinued operations were $447 million compared to $510 million a year ago. Earnings from continuing operations were $346 million compared to $332 million a year ago. Net earnings was $345 million or $1.00 per diluted share compared to $333 million or $0.95 per diluted share a year ago. Net cash provided by operating activities was $989 million compared to $893 million a year ago. Additions to property and equipment were $41 million compared to $58 million a year ago. Return on equity was 20.7% compared to 21.9% a year ago. Non-GAAP return on equity was 24.7% compared to 21.6% a year ago. Non-GAAP diluted earnings per share from continuing operations to $1.20. The earnings increase was driven by strong non-GAAP operating earnings growth and a tax settlement, which contributed $0.18 per share. Non-GAAP operating earnings of $579 million increased 11%. Non GAAP earnings from continuing operations were $412 million. For the nine months, the company reported revenue of $75,673 million compared to $80,788 million a year ago. Operating earnings was $1,439 million compared to $1,388 million a year ago. Earnings before income taxes and discontinued operations were $1,369 million compared to $1,321 million a year ago. Earnings from continuing operations were $921 million compared to $834 million a year ago. Net earnings was $920 million or $2.67 per diluted share compared to $832 million or $2.38 per diluted share a year ago. Net cash provided by operating activities was $1,427 million compared to $1,283 million a year ago. Additions to property and equipment were $103 million compared to $158 million a year ago. Return on equity was 18.9% compared to 18.7% a year ago. Non-GAAP return on equity was 20.8% compared to 19.4% a year ago. Net debt was $1,855 million compared to $143 million a year ago. Non-GAAP operating earnings of $524 million increased 11%. Non GAAP earnings from continuing operations were $327 million. Non-GAAP diluted earnings per share from continuing operations to $0.94. The company raised its fiscal 2013 outlook for non-GAAP diluted EPS from continuing operations to $3.67 to $3.71. The revised range includes the $0.18 tax settlement. The company is updating the previously provided fiscal 2013 guidance for amortization of acquisition-related intangibles to $120 million to include the closing of AssuraMed. As a reminder, this amount is included from its non-GAAP earnings. The company’s revised guidance assumes a non-GAAP tax rate for the fourth quarter of fiscal 2013 of approximately 37%.

Cardinal Health, Inc. announced that its board of directors approved a 10% increase in the company's quarterly dividend to $0.3025 per share, or $1.21 per share on an annualized basis. The quarterly dividend is payable on July 15, 2013 to shareholders of record at close of business on July 1, 2013.