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Owens & Minor Revises Guidance; Reduces Dividend - Quick Facts

Owens & Minor, Inc. (OMI) announced the company now expects adjusted net income per diluted share for 2018 to be in a range of $1.20 to $1.25. In light of the revised guidance range for 2018, the company said it is re-evaluating 2019 outlook and anticipates issuing guidance for 2019 in the first quarter of next year.

"For 2018, our revised guidance range reflects lower year-to-date results and reduced expectations for our Global Solutions SBU. In addition, we expect Global Products' production costs to be higher in the fourth quarter than in the third quarter," said Cody Phipps, CEO.

For the third-quarter, adjusted net income was $19.5 million, or $0.32 per share, compared to adjusted net income for the same period last year of $24.3 million, or $0.40. Consolidated revenues were $2.46 billion, representing an increase of 5.6% when compared to revenues of $2.33 billion in the third quarter of 2017. Quarterly revenue growth included contributions from Byram Healthcare of $61 million and the first full quarter of revenue contribution from Halyard of $240 million.

The company also announced that its board declared a fourth quarter 2018 dividend of $0.075 per share. The dividend is payable on January 2, 2019, to shareholders of record on December 17, 2018. The amount of the dividend represents a reduction of $0.185 per share from the previous quarter's dividend.

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