Steris Earnings Cheat Sheet: Swinging to a Profit

Steris Corporation (NASDAQ:STE) reported its results for the first quarter. STERIS Corporation is a provider of infection prevention and surgical products and services, focused mainly on the critical markets of healthcare, pharmaceutical and research.

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Steris Earnings Cheat Sheet for the First Quarter

Results: Swung to a profit of $28.7 million (48 cents per diluted share) in the quarter. Steris Corporation had a net loss of $45.2 million or a loss 76 cents per share in the year earlier quarter.

Revenue: Rose 68.6% to $318.6 million from the year earlier quarter.

Actual vs. Wall St. Expectations: STE reported adjusted net income of 46 cents per share. By that measure, the company fell short of mean estimate of 49 cents per share. It beat the average revenue estimate of $311.3 million.

Quoting Management: “We are pleased to have a solid start to fiscal 2012, with growth across the business,” said Walt Rosebrough, President and Chief Executive Officer of STERIS. “As we anticipated, our profitability was impacted during the quarter by strategic investments and the continued declines in SYSTEM one consumables. However, after one quarter, our outlook remains unchanged as we are on plan to deliver earnings in the range of $2.25 to $2.45 per diluted share for the full fiscal year.”

Key Stats:

Revenue has now gone up for three straight quarters. In the fourth quarter of the last fiscal year, revenue rose 13.7% to $377.8 million while the figure rose 0.1% in the third quarter of the last fiscal year from the year earlier.

The company has now fallen short of estimates in the last two quarters. In the fourth quarter of the last fiscal year, it missed expectations by 2 cents with net income of 61 cents versus a mean estimate of net income of 63 cents per share.

Competitors to Watch: Stryker Corporation (NYSE:SYK), Cantel Medical Corp. (NYSE:CMN), Medical Action Industries (NASDAQ:MDCI), Kinetic Concepts, Inc. (NYSE:KCI), Invacare Corporation (NYSE:IVC), Becton, Dickinson and Co. (NYSE:BDX), Hill-Rom Holdings, Inc. (NYSE:HRC), Thermo Fisher Scientific Inc. (NYSE:TMO), and Winner Medical Group, Inc (NASDAQ:WWIN).

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(Source: Xignite Financials)