Steris 4Q Profit Rises On Lighter Costs

"We anticipate that fiscal 2010 will continue to be a challenging environment, but we remain encouraged by customer response to our new products," said President and Chief Executive Walt Rosebrough in a statement.

Looking ahead, the company said it expects profit for fiscal 2010 to range from $1.80 to $2 per share on revenue that will range from flat to a mid-single digit decline. Analysts expect profit of $1.79 per share on revenue of $1.31 billion.

Steris shares rose $3.29, or 14 percent, to $26.69 in morning trading. The stock has traded between $19.20 and $38.93 over the past 52 weeks.