San Diego-based CareFusion Corp. recently reported a drop in its third quarter revenue, resulting in a dip in the medical device manufacturer’s stock price.
Revenue for the third quarter of 2013, which ended March 31, was $901 million — down from $919 million in the like period in the prior year.
Stock for the company, which has a $7.5 billion market cap, fell about 3.1 percent following the announcement, from $34.63 to $33.59.
The company said in its quarterly report that it expects the full-year fiscal 2013 revenue to be flat, or to decrease by a small increment compared with its fiscal 2012 revenue of $3.6 billion.
— Meghana Keshavan