Owens & Minor Q4 Profit Beats Estimates - Quick Facts

(RTTNews) - Owens & Minor, Inc. (OMI) reported that its fourth-quarter net income increased year-over-year to $27.94 million or $0.44 per share, from $24.93 million or $0.39 per share. Adjusted net income, which excludes after-tax charges of $5.0 million for acquisition-related and exit and realignment activities, was $33.0 million, or $0.52 per share, for the quarter.

On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.51 for the quarter. Analytsts' estimates typically exclude special items.

Net revenue was $2.32 billion, compared to $2.29 billion, prior year. Analysts expected revenue of $2.34 billion for the quarter.

The company reiterated its financial guidance for 2014, which was originally issued at December 2013 Investor Day. For 2014, the company is targeting revenue growth of up to 2% and adjusted net income per share of $1.95 to $2.05 for the year, which excludes exit and realignment and transaction-related costs. Analysts expect the company to report fiscal 2014 profit per share of $2.01.

Owens & Minor, Inc. also announced that its board has approved the payment of the first quarter 2014 cash dividend in the amount of $0.25 per share, a 4.2% increase over the prior quarter's dividend. The cash dividend is payable on March 31, 2014, to shareholders of record as of March 17, 2014.

The company's board also authorized a share repurchase program of up to $100 million of outstanding common stock to be executed at the discretion of management over a three-year period, expiring in February 2017.