Steris Corp. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2013; Announces Quarterly Dividend Payable on June 25, 2013; Provides Earnings Guidance for the Fiscal Year Ending March 31, 2014
May 7 13
Steris Corp. announced unaudited consolidated earnings results for the fourth quarter and full year ended March 31, 2013. For the quarter, the company announced revenues, net of $428,216,000 compared to $390,249,000 for the same period a year ago. Income from operations was $65,110,000 compared to $74,048,000 for the same period a year ago. Net income was $41,381,000 compared to $44,171,000 for the same period a year ago. Earnings per common share data, diluted was $0.70 compared to $0.76 for the same period a year ago. Adjusted net income per diluted share was $0.70 compared to $0.60 for the same period a year ago. Adjusted revenues were $426,249,000 compared to $374,943,000 for the same period a year ago. Adjusted operating income was $65,369,000 compared to $59,938,000 for the same period a year ago. Adjusted net income was $41,539,000 compared to $35,139,000 for the same period a year ago. Capital spending was $23.5 million in the quarter.
For the full year, the company announced revenues, net of $1,501,902,000 compared to $1,406,810,000 for the same period a year ago. Income from operations was $242,829,000 compared to $222,316,000 for the same period a year ago. Net income was $159,977,000 compared to $136,115,000 for the same period a year ago. Earnings per common share data, diluted was $2.72 compared to $2.31 for the same period a year ago. Net cash provided by operating activities was $227,815,000 compared to $149,372,000 for the same period a year ago. Purchases of property, plant, equipment, and intangibles, net was $87,412,000 compared to $66,682,000 for the same period a year ago. Free cash flow was $140,437,000 compared to $82,732,000 for the same period a year ago. The increase in free cash flow was driven by improvements in working capital management and a tax benefit related to European restructuring. Adjusted net income per diluted share was $2.34 compared to $2.22 for the same period a year ago. Adjusted revenues were $1,479,535,000 compared to $1,391,504,000 for the same period a year ago. Adjusted operating income was $219,743,000 compared to $214,461,000 for the same period a year ago. Adjusted net income was $137,777,000 compared to $131,087,000 for the same period a year ago.
The company provided earnings guidance for the fiscal year ending March 31, 2014. For the year, the company expects to report cash flows from operating activities of $235,000,000, purchases of property, plant, equipment, and intangibles, net of $90,000,000 and free cash flow of $145,000,000. Net income per diluted share expected to be between $2.27 and $2.40. Adjusted net income per diluted share expected to be between $2.47 and $2.60. Based upon current trends, the company expects revenue growth in the range of 8% to 10% in fiscal 2014. Adjusted EBIT as a % of revenue is anticipated to be approximately 15.5%. The adjusted effective tax rate is anticipated to be in the range of 34% to 35%. The company anticipates growing earnings somewhat between 6% and 11%. Excluding the medical device impact this year, the company’s earnings would increase double digits versus fiscal year 2013.
The company announced that its board of directors has authorized a quarterly dividend of $0.19 per common share. The dividend is payable on June 25, 2013 to shareholders of record at the close of business on June 4, 2013.
Steris Corp. Launches Groundbreaking Orthopedic Surgical Table
Mar 20 13
Steris Corp. launched Groundbreaking Orthopedic Surgical Table. A surgical table is a workhorse, and a critical mainstay of every operating room. It must meet the many needs of the patients and professionals who interact with it during each surgical or therapeutic case. As a result, a surgical table must be more than a product - it must provide a thorough solution that serves patients by enabling optimal positioning and outcomes, protecting surgeons and staff from the risk of strain or injury, and improving efficiency and productivity for the healthcare provider. The imaging capabilities of these new orthopedic surgical tables are also extraordinary. The tables are designed to optimize a full range of images, from mid-abdomen to distal lower extremities; and to provide C-arm access for supine, prone and lateral positions. In addition, a free-floating clamp allows the traction device to be aligned with the spar to provide more unrestricted imaging angles. The radiolucent spars minimize interference, but can also be positioned out of the imaging area if needed. The table's lateral translation function that shifts patients away from the table core also helps improve imaging results. Surgical tables must be positioned, returned to level, and moved for each surgical case and for room turnover, which requires time and staff effort. Innovation that can streamline this process is an advantage in the OR. In the case of the OT 1000 Series tables, there are several innovative features that help improve efficiency. One is the intuitive and ergonomic table controls, which are designed for safe, easy, fast, precise and repeatable orthopedic positioning and table movement. An illuminated data-rich hand control allows touch pad activation of numerous functions such as floor locks, Trendelenburg, height, tilt, level and stop patient positioning, and lateral slide and femur control. The 1100 and 1200 models of the OT 1000 series tables also include a powerful drive function that enables a single user to quickly and easily maneuver the table throughout perioperative areas. This can help ease scheduling challenges and streamline room turnover. The OT 1000 Series tables are also designed for the optimal safety of the patient and surgical staff. In addition to the ergonomic advantages of the SWAN technology, these tables also have a quick release mechanism on the boot, headrest and lateral slide. An integrated safety lock protects patients from unintended movements, because the spars automatically stop when the button and/or lever are released.