Hospital & Healthcare Management/ Healthcare Market Report/ For the Fourth Quarter Hill-Rom Reports 63 Percent Growth in Adjusted Earnings Per Share
BATESVILLE, Ind., Oct. 27.
* Revenue of $397 million grew 9 percent versus prior year
* Adjusted earnings per share were $0.67 compared to $0.41 in the prior year, an increase of 63 percent
* Reported diluted earnings per share were $0.79 compared to $0.42 in the prior year, an increase of 88 percent
* Adjusted operating margin increased 570 basis points to 16.4 percent
* Fiscal year 2011 financial guidance: Constant currency revenues are expected to grow 4 to 6 percent and earnings are expected to be $2.05 to $2.15 per diluted share
Hill-Rom Holdings, Inc. announced strong financial results for its fiscal fourth quarter ended September 30, 2010, and provided its outlook for 2011. Net income increased 92 percent to $51 million compared to $26 million in the prior year. Earnings per diluted share increased 88 percent to $0.79 compared to $0.42 per diluted share in the prior year. On an adjusted basis, earnings per diluted share increased 63 percent to $0.67 from $0.41 in the prior year. The improved financial performance was primarily the result of increased revenue, gross margin expansion, and lower selling and administrative expenses.
Hill-Rom’s total revenue of $397 million increased 9 percent on a reported basis compared to last year and increased 10 percent for the quarter on a constant currency basis. Domestic revenue increased 7 percent to $277 million, while international revenue increased 15 percent to $120 million. Excluding the impact of foreign currency, Hill-Rom’s international revenue increased 19 percent.
For the full year, revenues and earnings per fully diluted share from continuing operations were $1,470 million and $1.97 respectively, compared to $1,387 million and a loss of $6.47 for the prior year. On an adjusted basis, fully diluted earnings per share for fiscal 2010 were $1.76 compared to $1.18 in 2009, an increase of 49 percent.
SOURCE Hill-Rom Holdings, Inc.