Thursday, Steris Corp. (STE), a protection and contamination control solutions provider, reported an increase in its fourth-quarter profit. On an adjusted basis, earnings per share however declined, but topped analysts' estimates. In a separate communiqué, the company announced a 38% increase in its quarterly dividend.
The Mentor, Ohio-based company's net income rose to $27.82 million, or $0.47 per share, from $26.11 million, or $0.42 per share, in the year-ago quarter.
On an adjusted basis, net income for the quarter decreased to $28.93 million, or $0.49 per share, from $36.45 million, or $0.59 per share, in the prior year.
Adjusted results excluded pre-tax restructuring charges of $1.8 million related to the third quarter 2009 cost reduction program. The prior-year quarter's adjusted results exclude pre-tax restructuring charges of $16.5 million associated with the 2008 cost reduction program.
On average, five analysts polled by Thomson Reuters expected the company to earn $0.40 per share for the quarter. Analysts' estimates typically exclude special items.
Quarterly revenues declined 8% to $344.37 million from $375.17 million in the comparable quarter last year, and came in below analysts' estimate of $351.75 million. On a constant currency basis, revenues decreased 5%.
On a segmental basis, Healthcare's revenues for the quarter were $249.19 million, down 6% from $264.25 million. Revenues for Life Sciences dropped 20%to $58.72 million from $73.02 million in the prior-year quarter.
Steris Isomedix Services' revenues fell 4% to $34.17 million from $35.74 million in the comparable quarter a year ago. Quarterly Corporate and other revenues amounted to $2.29 million, up from $2.17 million last year.
For the full year, net income grew to $110.69 million, or $1.86 per share, from $77.11 million, or $1.20 per share, in the prior year. Full-year revenues were $1.3 billion, up 3% from $1.27 billion a year earlier. On a constant currency basis, revenues grew 4%.
Analysts expected the company to report earnings of $1.82 per share on revenues of $1.31 billion for the year.
Looking forward, the company expects earnings for the full year 2010 to be in the range of $1.80 per share to $2.00 per share. Revenues are projected to be flat to down mid-single digits from fiscal 2009 levels. Analysts currently anticipate the company to earn $1.79 per share on revenue of $1.31 billion.
The company noted that the outlook takes into consideration the average forward exchange rates for the U.S. dollar and key international currencies as of April 2 as well as a slight increase in raw material costs.
Separately, the company announced a 38% increase in its quarterly dividend to $0.11 per common share, payable June 18 to shareholders of record at the close of business on May 21.
STE ended Wednesday's trading at $23.40 on the NYSE.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.