Owens & Minor Inc. Earnings: Booking a Profit Again

Owens & Minor Inc. (NYSE:OMI) reported its results for the fourth quarter. Owens & Minor is a distributor of medical and surgical supplies to the acute-care market and a healthcare supply-chain management company.

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Owens & Minor Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for Owens & Minor Inc. rose to $23.9 million (38 cents per share) vs. $21.8 million (34 cents per share) in the same quarter a year earlier. This marks a rise of 9.9% from the year earlier quarter.

Revenue: Rose 6.1% to $2.2 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: Owens & Minor Inc. fell short of the mean analyst estimate of 45 cents per share. Analysts were expecting revenue of $2.18 billion.

Quoting Management: “The six-percent revenue growth we reported for the year reflects the dedication of our teammates and the relationships they have fostered with our customers,” said Craig R. Smith, president & chief executive officer of Owens & Minor. “Despite challenging conditions in the U.S. economy and in healthcare in 2011, we remained focused on serving our customers, improving the supply chain, and developing new markets for our company. The entire team at Owens & Minor demonstrated strength and resilience all year, and all of us are looking forward to 2012 with energy and enthusiasm.”

Key Stats:

Revenue has risen the past four quarters. Revenue increased 5.5% to $2.18 billion in the third quarter. The figure rose 5.5% in the second quarter from the year earlier and climbed 7.8% in the first quarter from the year-ago quarter.

The company fell short of estimates last quarter after beating the mark the quarter before with net income of 53 cents versus a mean estimate of net income of 51 cents per share.

Net income has dropped 2.9% year over year on average across the last five quarters. Performance was hurt by a 32.6% decline in the fourth quarter of the last fiscal year from the year earlier quarter.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the first quarter of the next fiscal year has moved down from 49 cents a share to 48 cents over the last sixty days. The average estimate hasn’t changed from $1.89 per share for the fiscal year.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com