• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Richmond, Va., Surgical Supplier Posts 4 Percent Hike in Second-Quarter Income

Posted on: Friday, 22 July 2005, 15:01 CDT

Jul. 22--Owens & Minor Inc. reported a 4 percent increase in second-quarter net income to $16.0 million, or 40 cents per share, compared to $15.3 million, or 39 cents per share, a year earlier.

The Richmond medical and surgical supply company's revenue advanced 8 percent to $1.21 billion.

Operating earnings were 2.4 percent of revenue, compared with 2.5 percent a year before. Gross profit margin improved to 10.6 percent from 10.3 percent.

Selling, general and administrative expense increased to 7.9 percent from 7.6 percent, in part due to the acquisition of a diabetic supply company, which has higher expense ratios -- but also richer gross margins -- than Owens & Minor's traditional distribution business.

For the first six months of this year, revenue increased 8 percent to $2.4 billion.

Net income was $31.9 million, or 80 cents per share, compared to $30.0 million, or 76 cents per share, in the first half of 2004.

The company said it expects to earnings per share of $1.71 to $1.73 for all of 2005.

-----

To see more of the Richmond Times-Dispatch, or to subscribe to the newspaper, go to http://www.timesdispatch.com.

Copyright (c) 2005, Richmond Times-Dispatch, Va.

Distributed by Knight Ridder/Tribune Business News.

For information on republishing this content, contact us at (800) 661-2511 (U.S.), (213) 237-4914 (worldwide), fax (213) 237-6515, or e-mail reprints@krtinfo.com.

OMI,

Source: Richmond Times-Dispatch

More News in this Category