Wednesday, medical technology provider Hill-Rom Holdings Inc. (HRC), reported a higher fourth quarter profit that beat anlaysts' estimates. The company also provided guidance for the fiscal 2010.
The Batesville,Indiana-based company's income from continuing operations for the quarter rose to $26.4 million or $0.42 per share from $23.8 million or $0.38 per share in the year ago period.
The company reported a decline in adjusted earnings per share to $0.41 from $0.58 in the same quarter last year.
On average, six analysts polled by Thomson Reuters expected the company to report earnings of $0.30 per share for the quarter. Analysts' estimates typically exclude one-time items.
Hill-Rom's total revenue for the fourth quarter declined 14.4% to $363.3 million from $424.3 million in the comparable quarter last year, yet came inline with Wall Street's expectations.
On a constant currency basis, revenue decreased 13.5% for the quarter. The company recorded a decline of 17.1% in organic revenue for the quarter.
The company noted that revenue from North America Acute care declined 22.8%, international and surgical revenue was flat, while revenue from North America post-Acute care grew 1.8% in the fourth quarter.
Total gross margin improved 250 basis points compared to last year.
Quarterly operating expenses were flat at $133 million and operating profit was $39.2 million compared to $35.7 million in the year ago period.
For the full year, the company reported loss from continuing operations of $405 million or $6.47 per share compared to income of $67.1 million or $1.07 per share in the prior year. Year-to-date revenue was $1.3 billion, down from $1.5 billion last year.
Looking ahead, for fiscal 2010 Hill-Rom expects earnings per share to be in the range of $1.20 - $1.36 on revenues of $1.445 - $1.500 billion. Analysts estimate earnings of $1.26 per share on revenues of $1.45 billion.
HRC finished Wednesday's trading session up $0.18 or 0.84% at $21.53 on the NYSE.
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