Monday, Owens & Minor Inc. (OMI), a healthcare supply-chain management company, announced that its fourth-quarter net income increased from the previous year quarter.
The company recorded net income of $32.3 million or $0.77 per share, an increase of 60.1% compared to $20.2 million or $0.49 per share in the fourth quarter of 2008.
Income from continuing operations for the quarter increased to $32.0 million or $0.76 per share from $27.4 million or $0.66 per share for the same period last year, while revenue were $2.04 billion, up 4.2% from revenue of $1.96 billion in the fourth quarter of 2008.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.71 per share on revenues of $2.08 billion for the quarter. Analysts' estimates typically exclude special items.
For 2009, the company reported that the net income increased 12.1% to $104.7 million or $2.50 per share, compared to net income of $93.3 million or $2.25 per share for the same period last year.
Income from continuing operations for the full year was $116.9 million or $2.79 per share, an increase of 15.4% compared to $101.3 million or $2.44 per share in 2008.
For the year ended December 31, 2009, revenue was $8.04 billion, increased 11.0% from revenue of $7.24 billion in 2008.
For fiscal 2010, the company expects revenue growth to be in a range of 4% to 6% compared to 2009, and income per share in a range of $2.90 to $3.05. Analysts expect the company to report earnings of $2.94 per share on revenues of $8.50 billion for fiscal 2010.
The Owens & Minor board of directors on February 8, 2010, approved a 15% increase in the first quarter 2010 dividend. The first quarter 2010 dividend of $0.265 per share is payable on March 31, 2010, to shareholders of record as of March 15, 2010.
OMI closed Monday's regular trading at $42.89 down $0.31 or 0.72% on the NYSE, however, in the after hour trading the stock price increased to $44.94 up $2.05 or 4.78%.
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