Owens & Minor Q1 Profit Decreases, but beats estimates

Owens & Minor (OMI) reported a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $39.3 million, or $0.52 per share. This compares with $69.6 million, or $0.98 per share, in last year's first quarter.

Excluding items, Owens & Minor reported adjusted earnings of $72.8 million or $0.96 per share for the period.

Analysts on average had expected the company to earn $0.82 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.4% to $2.41 billion from $2.33 billion last year.

Owens & Minor earnings at a glance (GAAP) :

-Earnings (Q1): $39.3 Mln. vs. $69.6 Mln. last year.
-EPS (Q1): $0.52 vs. $0.98 last year.
-Analyst Estimates: $0.82
-Revenue (Q1): $2.41 Bln vs. $2.33 Bln last year.

Full year EPS guidance: $3.05-$3.55
Full year revenue guidance: $9.9-$10.3 Bln

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