Health care distribution and logistics services provider Owens & Minor reported third-quarter results yesterday after the markets closed, showing that it posted net revenues of $2.3 billion, a near 6% increase from the same period in the previous year, and just ahead of the $2.26 billion Capital IQ consensus estimate.
While adjusted net income came in at $29.9 million, or $0.47 per share, short of the $31.2 million, or $0.49 per share, in the same period in 2012, it was $0.02-per-share worse than the CapIQ estimates of $0.49 per share.
Owens & Minor says its international segment was the primary reason for the improved revenue picture this quarter, but that came about as a result of its acquisition of Movianto in August 2012. Here at home it benefited from an additional selling day in the quarter, but margins took a hit because of lower margin sales to hospitals.
The distribution and logistics services provider says it expects revenues to grow 2% to 4% in 2013, and is targeting adjusted net income at the lower end of its original guidance of $1.90 to $2.00 for the year, in-line with analysts expectations of earnings of $1.90 per share on revenues of $2.31 billion.
The article Owens & Minor Offers Mixed Bag in Third Quarter originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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