UPDATE 1-Owens & Minor quarterly profit jumps

Mon Apr 21, 2008 11:14pm BST
 
Email | Print | | Single Page
[-] Text [+]

(Add revenue, outlook)

NEW YORK, April 21 (Reuters) - Owens & Minor (OMI.N: Quote, Profile, Research), a distributor of medical and surgical supplies, said on Monday its first-quarter profit more than doubled.

The Richmond, Virginia-based company posted a net profit of $24.2 million, or 59 cents per share, compared with a profit of $10.8 million, or 27 cents per share, a year ago, when results included significant expenses related to an acquisition.

Analysts on average had expected 51 cents per share, according to Reuters Estimates.

Revenue rose nearly 4 percent to $1.75 billion, in line with Wall Street expectations.

Chief Executive Craig Smith said the "first quarter results put us within the range of our previously stated guidance."

The company reaffirmed its full-year forecast for earnings of $2.20 to $2.30 per share and revenue growth of 5 percent to 7 percent. (Reporting by Bill Berkrot, editing by Richard Chang and Carol Bishopric)

 

Editor's Choice

  • Pictures
  • Video
  • Articles
Photo

A selection of our best photos from the past 24 hours.  View Slideshow 

Most Popular on Reuters UK

  • Articles
  • Videos
  • Recommended