Owens & Minor Q3 Profit Rises

(RTTNews) - Owens & Minor Inc. (OMI) Monday reported third-quarter net income of $28.0 million or $0.44 per share, compared to $24.6 million or $0.39 per share last year.

Adjusted net income, which excludes pre-tax charges of $2.7 million for acquisition-related and exit and realignment activities, was $29.9 million or $0.47 per share, compared to $31.2 million or $0.49 per diluted share last year. On average, seven analysts polled by Thomson Reuters expected the company to earn $0.49 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter were $2.30 billion, increased 5.7 percent when compared to $2.18 billion last year. Analysts estimated revenues of $2.26 billion for the quarter.

Looking forward to 2013, the company continues to target revenue growth of 2 to 4, percent, but is now targeting adjusted net income at the lower end of the original guidance of $1.90 to $2.00 per share. Analysts currently estimate earnings of $1.90 per share and revenues of $9.11 billion.