Owens & Minor Q2 Profit Meets Estimate; Backs FY13 Eps Outlook - Quick Facts

(RTTNews) - Owens & Minor, Inc. (OMI) Monday posted second-quarter net income of $28.9 million or $0.46 per share from $30.1 million or $0.48 per share in the same period last year.

Adjusted earnings for the quarter was $29.3 million or $0.46 per share, down from $30.5 million or $0.48 per share in the year-ago period. On average, six analysts polled by Thomson Reuters expected the company to earn $0.46 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues totaled $2.27 billion, up 2.6 percent from $2.19 billion last year, while six analysts expected revenues of $2.28 billion.

Looking ahead, the company continues to anticipate full-year earnings in the range of $1.90 to $2.00 per share. Analysts currently expect full-year earnings of $1.90 per share.

Separately, Owens & Minor announced that James Bierman, Executive Vice President & Chief Operating Officer, has been promoted to President & Chief Operating Officer of Owens & Minor, effective August 1, 2013.

Craig Smith, will remain as Chairman & Chief Executive Officer. Smith, who previously held the title of Chairman, President & Chief Executive Officer, was appointed Chairman of the Board on April 26, 2013, the company said.

The company also announced that its board of directors has approved the payment of the third quarter 2013 cash dividend in the amount of $0.24 per share. The cash dividend is payable on September 30, 2013, to shareholders of record as of September 16, 2013.