Steris Sees FY17 Earnings In-line, Revenue Growth Above View - Quick Facts

(RTTNews) - While reporting its fourth-quarter and fiscal 2016 results today, Steris Corp (STE), a UK-based maker of infection prevention products, provided its financial outlook for fiscal 2017. The company forecast earnings for the year in line with analysts' expectations and revenue growth above their estimates.

For fiscal 2017, Steris expects revenue growth of 25 percent to 26 percent, including approximately 7 percent organic revenue growth, and adjusted earnings of $3.85 to $4.00 per share.

On average, analysts polled by Thomson Reuters expect the company to earn $3.96 per share for the year on a 22.9 percent increase in revenues to $2.77 billion. Analysts' estimates typically exclude special items.

Steris said its board of directors has authorized a quarterly dividend of $0.25 per common share. The dividend is payable June 29, 2016 to shareholders of record at the close of business on June 8, 2016.

The company also said it continues to expect $15 million in cost synergies as a result of the combination with Synergy and an adjusted effective tax rate of about 25 percent in fiscal 2017.