Steris 4Q Profit Rises On Lighter Costs

MENTOR, Ohio (AP) — Medical products maker Steris Corp. said Thursday its fiscal fourth-quarter profit rose 7 percent as lower restructuring costs offset the revenue decline from lower demand.

The company earned $27.8 million, or 47 cents per share, up from profit of $26.1 million, or 42 cents per share, during the same period a year prior. Revenue fell 8 percent to $344.4 million from $375.2 million. The fiscal 2009 fourth quarter and full-year ended March 31.

Analysts polled by Thomson Reuters expected profit of 40 cents per share on revenue of $351.8 million.

Health care products revenue fell 6 percent to $249.2 million while sales in life sciences tools and equipment fell 20 percent to $58.7 million. Isomedix contract sterilization services revenue fell slightly to $34.2 million.

Meanwhile, operating expenses fell 13 percent to $92.2 million.

For the full year, the company earned $110.7 million, or $1.86 per share, up from $77.1 million, or $1.20 per share, in fiscal 2008. Revenue rose to $1.3 billion from $1.27 billion.